Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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Section 249(4)(b) could not be used to reject the quantum appeal where the record did not show taxable income in India and, on the assessee's consistent case, no obligation to pay advance tax arose. The Tribunal noted that the addition stemmed only from an unexplained source of investment in immovable property, not from returned or admitted income. The Commissioner (Appeals) therefore erred in dismissing the appeal in limine. The quantum matter was restored to the jurisdictional Assessing Officer for de novo adjudication after due opportunity, and the consequential penalty under section 271(1)(c) was also restored for fresh consideration.
Section 249(4)(b) could not be used to reject the quantum appeal where the record did not show taxable income in India and, on the assessee's consistent case, no obligation to pay advance tax arose. The Tribunal noted that the addition stemmed only from an unexplained source of investment in immovable property, not from returned or admitted income. The Commissioner (Appeals) therefore erred in dismissing the appeal in limine. The quantum matter was restored to the jurisdictional Assessing Officer for de novo adjudication after due opportunity, and the consequential penalty under section 271(1)(c) was also restored for fresh consideration.
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