Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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The dominant issue was whether an assessment framed for FY 2024-2025 pursuant to a show cause notice issued under s.74, instead of the applicable s.74A, was legally sustainable. The Court held that issuance of the notice and consequential assessment under s.74 lacked authority of law where s.74A governed the period; therefore, the assessment order was set aside. To avoid futile remand and limitation complications, the Court directed that the existing notice be treated as a notice under s.74A, required the taxpayer to file a reply on that basis, and ordered adjudication afresh on merits. - HC
The dominant issue was whether an assessment framed for FY 2024-2025 pursuant to a show cause notice issued under s.74, instead of the applicable s.74A, was legally sustainable. The Court held that issuance of the notice and consequential assessment under s.74 lacked authority of law where s.74A governed the period; therefore, the assessment order was set aside. To avoid futile remand and limitation complications, the Court directed that the existing notice be treated as a notice under s.74A, required the taxpayer to file a reply on that basis, and ordered adjudication afresh on merits. - HC
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