Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Fresh assessment after Tribunal remand must be completed within the statutory period under Section 153, and failure to do so bars any further demand. The High Court held that where no assessment order was passed within the extended limitation period, the Assessing Officer could not keep the matter pending or rely on earlier findings independently of a consequential order. The consequence of non-compliance was that the return of income had to be accepted as filed. The writ petition was therefore allowed, and the assessee's return for AY 2014-15 was directed to be accepted.
Fresh assessment after Tribunal remand must be completed within the statutory period under Section 153, and failure to do so bars any further demand. The High Court held that where no assessment order was passed within the extended limitation period, the Assessing Officer could not keep the matter pending or rely on earlier findings independently of a consequential order. The consequence of non-compliance was that the return of income had to be accepted as filed. The writ petition was therefore allowed, and the assessee's return for AY 2014-15 was directed to be accepted.
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