Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Validity of assessment order under Section 143(3) read with Section 144B was challenged where the assessing authority based an addition under Section 69 solely on aggregate import figures received from CBEC without furnishing breakup or underlying import bills; the court held that reliance on undisclosed third-party data without providing particulars or opportunity to reconcile breached principles of natural justice, vitiating the addition and assessment; the court noted prior transfer pricing scrutiny found purchases at arms length and remanded the matter for reconsideration after disclosure of the material relied upon.
Validity of assessment order under Section 143(3) read with Section 144B was challenged where the assessing authority based an addition under Section 69 solely on aggregate import figures received from CBEC without furnishing breakup or underlying import bills; the court held that reliance on undisclosed third-party data without providing particulars or opportunity to reconcile breached principles of natural justice, vitiating the addition and assessment; the court noted prior transfer pricing scrutiny found purchases at arms length and remanded the matter for reconsideration after disclosure of the material relied upon.
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