Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Under Section 144C the Dispute Resolution Panel (DRP) should have dismissed the petitioner's objections simpliciter because a final assessment order had already been passed; therefore the DRP's findings on whether the objections were intimated to the assessing officer were unwarranted. The operative effect directed is that those DRP observations shall not be considered by the Commissioner of Income Tax (Appeals), who must decide the taxpayer's appeal against the final assessment order without being influenced by the impugned DRP order.
Under Section 144C the Dispute Resolution Panel (DRP) should have dismissed the petitioner's objections simpliciter because a final assessment order had already been passed; therefore the DRP's findings on whether the objections were intimated to the assessing officer were unwarranted. The operative effect directed is that those DRP observations shall not be considered by the Commissioner of Income Tax (Appeals), who must decide the taxpayer's appeal against the final assessment order without being influenced by the impugned DRP order.
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