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...
A reassessment notice issued beyond three years from the end of assessment year 2018-19 required prior sanction from the PCCIT/CCIT under section 151(ii), not the PCIT. The Tribunal held that obtaining sanction from an authority not prescribed by law rendered the section 148 notice void, and section 149 could not dilute or override the sanction requirement in section 151. It further held that the Finance Act, 2023 proviso to section 151 had no retrospective application. Because the reassessment initiation was jurisdictionally invalid, the revisionary order under section 263 founded on those proceedings was also unsustainable and was set aside.
A reassessment notice issued beyond three years from the end of assessment year 2018-19 required prior sanction from the PCCIT/CCIT under section 151(ii), not the PCIT. The Tribunal held that obtaining sanction from an authority not prescribed by law rendered the section 148 notice void, and section 149 could not dilute or override the sanction requirement in section 151. It further held that the Finance Act, 2023 proviso to section 151 had no retrospective application. Because the reassessment initiation was jurisdictionally invalid, the revisionary order under section 263 founded on those proceedings was also unsustainable and was set aside.
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