Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Reopening of assessment challenged on the ground that an interest-free loan to a director constituted a deemed dividend; the Assessing Officer relied on alleged non-disclosure to invoke extended limitation. The court found audited accounts and the directors ledger disclosed the primary fact of the interest-free loan, so invocation of extended limitation and issuance of reassessment notice were jurisdictionally invalid; reassessment second time on the same transaction was arbitrary and contrary to the requirement that an assessee need only disclose primary facts, and violated equality, economic liberty and property protections, resulting in allowance of the writ petitions.
Reopening of assessment challenged on the ground that an interest-free loan to a director constituted a deemed dividend; the Assessing Officer relied on alleged non-disclosure to invoke extended limitation. The court found audited accounts and the directors ledger disclosed the primary fact of the interest-free loan, so invocation of extended limitation and issuance of reassessment notice were jurisdictionally invalid; reassessment second time on the same transaction was arbitrary and contrary to the requirement that an assessee need only disclose primary facts, and violated equality, economic liberty and property protections, resulting in allowance of the writ petitions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
