Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Recording of a satisfaction note by the assessing officer of the searched person is a jurisdictional prerequisite to initiate proceedings and frame assessment in respect of a non-searched person under section 153C; absence of that satisfaction note vitiates jurisdiction and merits quashing of the assessment. Where limitation for an assessment year is to be computed, the relevant date is the date of satisfaction/handing over of records; applying that date, the Tribunal found the assessment year barred by limitation and quashed the assessment. The Tribunal therefore dismissed the Revenue's appeal and upheld quashing of the assessment.
Recording of a satisfaction note by the assessing officer of the searched person is a jurisdictional prerequisite to initiate proceedings and frame assessment in respect of a non-searched person under section 153C; absence of that satisfaction note vitiates jurisdiction and merits quashing of the assessment. Where limitation for an assessment year is to be computed, the relevant date is the date of satisfaction/handing over of records; applying that date, the Tribunal found the assessment year barred by limitation and quashed the assessment. The Tribunal therefore dismissed the Revenue's appeal and upheld quashing of the assessment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
