Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Proceeds of crime: provisional attachment confirmed; equivalent value attachment and acquisition date fair market value upheld, Covid exclusion preser...
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The DRP's directions are binding on the Assessing Officer, and a final assessment under section 144C must conform to those directions. Here, the Assessing Officer issued the final order by repeating the transfer pricing adjustment from the draft assessment, despite DRP directions requiring the adjustment to be reworked and the consequential effect order reflecting a reduced figure. The Tribunal treated this as a serious breach of the statutory mandate and quashed the final assessment order without any further inquiry into prejudice. The merits of the additions were left undecided.
The DRP's directions are binding on the Assessing Officer, and a final assessment under section 144C must conform to those directions. Here, the Assessing Officer issued the final order by repeating the transfer pricing adjustment from the draft assessment, despite DRP directions requiring the adjustment to be reworked and the consequential effect order reflecting a reduced figure. The Tribunal treated this as a serious breach of the statutory mandate and quashed the final assessment order without any further inquiry into prejudice. The merits of the additions were left undecided.
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