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...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Validity of reassessment notice under s.147/s.148: held that Range head has concurrent jurisdiction and undated/unsigned reasons were not fatal where covering letter carried DIN - notice valid. Addition under s.2(22)(e): transactions characterized as ordinary course share trading; reliance on precedent and CBDT Circular supports deletion of deemed dividend - addition deleted. Disallowance under s.14A: no investment existed in books, AO's presumption defective - deletion sustained. Short-term capital loss on alleged property sale: absence of transfer evidence and contrived transactions found; CIT(A)'s relief set aside and AO's addition confirmed. Additions under ss.41(1) and 68: CIT(A)'s deletions sustained; other expense disallowances for non-production of parties overturned - mixed outcomes. - ITAT
Validity of reassessment notice under s.147/s.148: held that Range head has concurrent jurisdiction and undated/unsigned reasons were not fatal where covering letter carried DIN - notice valid. Addition under s.2(22)(e): transactions characterized as ordinary course share trading; reliance on precedent and CBDT Circular supports deletion of deemed dividend - addition deleted. Disallowance under s.14A: no investment existed in books, AO's presumption defective - deletion sustained. Short-term capital loss on alleged property sale: absence of transfer evidence and contrived transactions found; CIT(A)'s relief set aside and AO's addition confirmed. Additions under ss.41(1) and 68: CIT(A)'s deletions sustained; other expense disallowances for non-production of parties overturned - mixed outcomes. - ITAT
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