Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Mandatory compliance with section 144C was violated where the Assessing Officer issued a so-called draft assessment order while already determining taxable income and tax payable, issuing a demand notice and initiating penalty proceedings. The Tribunal held that these steps could occur only after a final assessment order, so the document was in substance a final order passed without the required draft procedure. This was a jurisdictional defect, not a mere procedural irregularity, and section 292B could not cure it. The final assessment order, demand notice and penalty notice were therefore quashed, and the assessee's cross objection was allowed.
Mandatory compliance with section 144C was violated where the Assessing Officer issued a so-called draft assessment order while already determining taxable income and tax payable, issuing a demand notice and initiating penalty proceedings. The Tribunal held that these steps could occur only after a final assessment order, so the document was in substance a final order passed without the required draft procedure. This was a jurisdictional defect, not a mere procedural irregularity, and section 292B could not cure it. The final assessment order, demand notice and penalty notice were therefore quashed, and the assessee's cross objection was allowed.
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