Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Validity of an ICDS adjustment was challenged on the basis that the intimation under the income tax intimation procedure was issued without giving the assessee prior written or electronic notice and without considering the assessees response. The court found that the first and second provisos require notice of a proposed adjustment and consideration of any reply before making adjustments; absence of such notice and opportunity to be heard violated the principles of natural justice. Consequently the ICDS adjustment in the intimation was quashed.
Validity of an ICDS adjustment was challenged on the basis that the intimation under the income tax intimation procedure was issued without giving the assessee prior written or electronic notice and without considering the assessees response. The court found that the first and second provisos require notice of a proposed adjustment and consideration of any reply before making adjustments; absence of such notice and opportunity to be heard violated the principles of natural justice. Consequently the ICDS adjustment in the intimation was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
