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 ...
Mandatory statutory notice prior to framing an assessment is required even where a return is filed in response to a notice under reassessment proceedings; if the Assessing Officer takes the filed return as the starting point for computation and acts upon it, pending electronic verification or later submission of a manual verification does not alone invalidate the return. An assessment completed without issuing the mandatory notice under the statutory provision governing notice before assessment is a jurisdictional defect and vitiates the assessment framed under reassessment provisions, resulting in the quashing of the assessment for the relevant year.
Mandatory statutory notice prior to framing an assessment is required even where a return is filed in response to a notice under reassessment proceedings; if the Assessing Officer takes the filed return as the starting point for computation and acts upon it, pending electronic verification or later submission of a manual verification does not alone invalidate the return. An assessment completed without issuing the mandatory notice under the statutory provision governing notice before assessment is a jurisdictional defect and vitiates the assessment framed under reassessment provisions, resulting in the quashing of the assessment for the relevant year.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
