Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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Reassessment under section 147 was invalid where the AO reopened the case on AIR information on the premise that the assessee was a non-PAN holder and had not filed a return, although the original return had already disclosed the property transfer, capital gains particulars and exemption claim. The Tribunal also found that the statutory notice under section 148, which confers jurisdiction for reassessment, was never served and no effective attempt at service was shown. As the reopening was also initiated beyond six years from the relevant assessment year, the reassessment was held to be without jurisdiction and void ab initio.
Reassessment under section 147 was invalid where the AO reopened the case on AIR information on the premise that the assessee was a non-PAN holder and had not filed a return, although the original return had already disclosed the property transfer, capital gains particulars and exemption claim. The Tribunal also found that the statutory notice under section 148, which confers jurisdiction for reassessment, was never served and no effective attempt at service was shown. As the reopening was also initiated beyond six years from the relevant assessment year, the reassessment was held to be without jurisdiction and void ab initio.
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