Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
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Once a return is filed in response to a notice under section 148, issuance of notice under section 143(2) is a mandatory statutory requirement; non-issuance is not a curable defect. The Tribunal held that the return could not be treated as non est merely because it was filed beyond the period mentioned in the reassessment notice, and read the amended provision harmoniously with the CBDT e-verification clarifications. Since no section 143(2) notice was issued after the return was filed, the reassessment was held bad in law, void ab initio, and quashed; the remaining grounds were left open.
Once a return is filed in response to a notice under section 148, issuance of notice under section 143(2) is a mandatory statutory requirement; non-issuance is not a curable defect. The Tribunal held that the return could not be treated as non est merely because it was filed beyond the period mentioned in the reassessment notice, and read the amended provision harmoniously with the CBDT e-verification clarifications. Since no section 143(2) notice was issued after the return was filed, the reassessment was held bad in law, void ab initio, and quashed; the remaining grounds were left open.
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