Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
Deduction under Chapter 80-series was held not forfeited by mere procedural delay in filing Form No.10CCB where the assessees filed the return within the due date and claimed the deduction; the Tribunal treated late filing of the form as a procedural defect, noting the form was uploaded before CPC processing and therefore processing under section 143(1) could not disallow the deduction solely on that ground. The Tribunal set aside the disallowance, directed recomputation of tax on book profits and remitted the matter to the AO for verification of the deduction quantum with opportunity to the assessee.
Deduction under Chapter 80-series was held not forfeited by mere procedural delay in filing Form No.10CCB where the assessees filed the return within the due date and claimed the deduction; the Tribunal treated late filing of the form as a procedural defect, noting the form was uploaded before CPC processing and therefore processing under section 143(1) could not disallow the deduction solely on that ground. The Tribunal set aside the disallowance, directed recomputation of tax on book profits and remitted the matter to the AO for verification of the deduction quantum with opportunity to the assessee.
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