Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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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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