Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
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Under Section 75(4), an adverse determination could not be made without affording the taxpayer a hearing, and the obligation remained even if the response to the show cause notice was filed late. The High Court found that no personal hearing had been given and the alleged communication relied on by the State was not available on the portal, so the assessment order under Section 73(9) suffered from breach of the mandatory hearing requirement. The order was set aside, and the officer was directed to restore limited portal access, accept the response, and decide the matter afresh after granting hearing in accordance with law.
Under Section 75(4), an adverse determination could not be made without affording the taxpayer a hearing, and the obligation remained even if the response to the show cause notice was filed late. The High Court found that no personal hearing had been given and the alleged communication relied on by the State was not available on the portal, so the assessment order under Section 73(9) suffered from breach of the mandatory hearing requirement. The order was set aside, and the officer was directed to restore limited portal access, accept the response, and decide the matter afresh after granting hearing in accordance with law.
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