Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
HC quashed reassessment where the reopening was founded on a GST cancellation order that had already been reversed in appeal. The Court noted that the appellate GST order found no fraudulent ITC claim, no violation attracting adjudication, and no basis for the cancellation. The income-tax authority also failed to consider that appellate material, despite its direct relevance to the alleged escapement of income. With no independent material beyond the set-aside GST action, the initiation of reassessment was unwarranted. The order under Section 148A(3) and the consequential notice under Section 148 were set aside.
HC quashed reassessment where the reopening was founded on a GST cancellation order that had already been reversed in appeal. The Court noted that the appellate GST order found no fraudulent ITC claim, no violation attracting adjudication, and no basis for the cancellation. The income-tax authority also failed to consider that appellate material, despite its direct relevance to the alleged escapement of income. With no independent material beyond the set-aside GST action, the initiation of reassessment was unwarranted. The order under Section 148A(3) and the consequential notice under Section 148 were set aside.
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