Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Where registered sale deeds were cancelled and consideration reversed but those documents were not placed before the assessing officer during assessment proceedings, cancelled transactions were treated as not giving rise to taxable income. The document stresses that evidence of cancellation and reversal, when first produced only before the court, defeats assessment orders premised on the original transactions. The assessing officer's failure to consider cancellation and reversal rendered impugned assessment orders unsustainable, resulting in quashing and setting aside of those orders and disposal in light of the cited precedent.
Where registered sale deeds were cancelled and consideration reversed but those documents were not placed before the assessing officer during assessment proceedings, cancelled transactions were treated as not giving rise to taxable income. The document stresses that evidence of cancellation and reversal, when first produced only before the court, defeats assessment orders premised on the original transactions. The assessing officer's failure to consider cancellation and reversal rendered impugned assessment orders unsustainable, resulting in quashing and setting aside of those orders and disposal in light of the cited precedent.
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