International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Validity of a notice issued under section 148 was contested where the partnership had been dissolved and its business taken over by a private limited company, and the dissolution had been formally intimated to the income-tax authorities. The Tribunal held that jurisdiction cannot be exercised by issuing a reassessment notice in the name of a non-existent entity; the defect persisted despite being pointed out during 148A proceedings and before the appellate authority. Applying that principle, the ITAT quashed the notice and the reassessment proceedings as bad in law.
Validity of a notice issued under section 148 was contested where the partnership had been dissolved and its business taken over by a private limited company, and the dissolution had been formally intimated to the income-tax authorities. The Tribunal held that jurisdiction cannot be exercised by issuing a reassessment notice in the name of a non-existent entity; the defect persisted despite being pointed out during 148A proceedings and before the appellate authority. Applying that principle, the ITAT quashed the notice and the reassessment proceedings as bad in law.
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