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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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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