Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Invalid approval for reassessment under the post-search regime vitiated the assessments, because the record did not show proper transmission of seized material to the approving authority and that factual gap remained unrebutted. The Tribunal also treated the assessments for the relevant years as wrongly framed under section 143(3), since after the search they fell within the post-search reassessment framework under sections 148/147, and quashed them on that basis. On the property issue, it accepted the seized document showing a lower investment figure and reduced the unexplained investment addition accordingly. On the cash issue, it directed verification of the company's taxed income and grant of telescoping to prevent double addition.
Invalid approval for reassessment under the post-search regime vitiated the assessments, because the record did not show proper transmission of seized material to the approving authority and that factual gap remained unrebutted. The Tribunal also treated the assessments for the relevant years as wrongly framed under section 143(3), since after the search they fell within the post-search reassessment framework under sections 148/147, and quashed them on that basis. On the property issue, it accepted the seized document showing a lower investment figure and reduced the unexplained investment addition accordingly. On the cash issue, it directed verification of the company's taxed income and grant of telescoping to prevent double addition.
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