Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Where the tax authority replaced the consistently accepted project completion method with percentage completion for a single year to tax alleged undisclosed profit admitted in a sworn statement, the tribunal held that, absent any change in facts or law, the revenue could not unilaterally substitute the method of revenue recognition, and an addition based only on a survey/statement without corroborative evidence was unsustainable; the deletion of the undisclosed-profit addition was upheld. On stamp valuation adjustment, the tribunal held the 10% tolerance band in the amended proviso to section 43CA(1) is curative and applies retrospectively; since the variation was 7%, the section 43CA addition was deleted. Revenue's appeal was dismissed. - ITAT
Where the tax authority replaced the consistently accepted project completion method with percentage completion for a single year to tax alleged undisclosed profit admitted in a sworn statement, the tribunal held that, absent any change in facts or law, the revenue could not unilaterally substitute the method of revenue recognition, and an addition based only on a survey/statement without corroborative evidence was unsustainable; the deletion of the undisclosed-profit addition was upheld. On stamp valuation adjustment, the tribunal held the 10% tolerance band in the amended proviso to section 43CA(1) is curative and applies retrospectively; since the variation was 7%, the section 43CA addition was deleted. Revenue's appeal was dismissed. - ITAT
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