Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
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Revision under section 263 was invoked on the ground that the assessment under section 153C read with section 143(3) concerning alleged cash payment for purchase of development rights was erroneous and prejudicial. It was held that prior administrative approval under section 153D does not bar revision, since the statutory scheme permits the PCIT to revise an assessment order notwithstanding such approval. On merits, the assessment was found to be based on enquiries, verification of documents and evidences, and a plausible view, including consideration of a witness statement denying linkage of seized notings to the assessee; the Revenue also failed to identify any specific unmade enquiry or incriminating material directly implicating the assessee. Consequently, the revision order was set aside and the appeal was allowed - ITAT
Revision under section 263 was invoked on the ground that the assessment under section 153C read with section 143(3) concerning alleged cash payment for purchase of development rights was erroneous and prejudicial. It was held that prior administrative approval under section 153D does not bar revision, since the statutory scheme permits the PCIT to revise an assessment order notwithstanding such approval. On merits, the assessment was found to be based on enquiries, verification of documents and evidences, and a plausible view, including consideration of a witness statement denying linkage of seized notings to the assessee; the Revenue also failed to identify any specific unmade enquiry or incriminating material directly implicating the assessee. Consequently, the revision order was set aside and the appeal was allowed - ITAT
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