Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
A High Court, exercising limited Section 34 review, sustained the arbitrator's view that extensions of time justified corresponding rescheduling of milestones, so release of the withheld milestone amount was proper. It quashed interest on that withheld amount because the contract imposed an absolute bar on any interest. The court corrected the final bill figure to reflect an admitted clerical error. It also disallowed the post-GST differential tax claim for lack of proof of actual payment and annulled prolongation damages for want of able loss under Section 73. The refund of penalty for delay in the sample flat, along with interest other than on the withheld amount and costs, was maintained.
A High Court, exercising limited Section 34 review, sustained the arbitrator's view that extensions of time justified corresponding rescheduling of milestones, so release of the withheld milestone amount was proper. It quashed interest on that withheld amount because the contract imposed an absolute bar on any interest. The court corrected the final bill figure to reflect an admitted clerical error. It also disallowed the post-GST differential tax claim for lack of proof of actual payment and annulled prolongation damages for want of able loss under Section 73. The refund of penalty for delay in the sample flat, along with interest other than on the withheld amount and costs, was maintained.
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