Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
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The note addresses whether limitation for passing a final assessment under section 144C(13) must be measured solely by section 144C or with reference to section 153; applying the reasoning of prior precedents it concludes the limitation period is to be determined read with section 153, making the final assessment order u/s 143(3) r.w.s.144C(13) for AY 2020-21 time barred. The operative effect is quashing of that final assessment order. Parties are granted liberty to revive the appeal on merits if the Supreme Court Larger Bench alters the law on this limitation issue.
The note addresses whether limitation for passing a final assessment under section 144C(13) must be measured solely by section 144C or with reference to section 153; applying the reasoning of prior precedents it concludes the limitation period is to be determined read with section 153, making the final assessment order u/s 143(3) r.w.s.144C(13) for AY 2020-21 time barred. The operative effect is quashing of that final assessment order. Parties are granted liberty to revive the appeal on merits if the Supreme Court Larger Bench alters the law on this limitation issue.
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