Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Section 79 did not bar the set off of brought forward business losses where the persons beneficially holding more than 51% of the voting power continued to hold that voting power on the relevant date; on the uncontroverted facts, the disqualifying change in shareholding was absent and the Revenue's challenge failed. An appellate authority could also entertain a lawful additional depreciation claim raised through a revised computation, because the restriction in Goetze (India) Ltd. applies only to the Assessing Officer and does not limit appellate powers. The Tribunal upheld allowance of both claims and dismissed the Revenue's appeal.
Section 79 did not bar the set off of brought forward business losses where the persons beneficially holding more than 51% of the voting power continued to hold that voting power on the relevant date; on the uncontroverted facts, the disqualifying change in shareholding was absent and the Revenue's challenge failed. An appellate authority could also entertain a lawful additional depreciation claim raised through a revised computation, because the restriction in Goetze (India) Ltd. applies only to the Assessing Officer and does not limit appellate powers. The Tribunal upheld allowance of both claims and dismissed the Revenue's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
