Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
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Non-compliance with a remand direction requiring completion of penalty proceedings within 12 weeks rendered the reinitiated proceedings unsustainable. The record showed that no final order under the penalty provision had been passed within the stipulated period and no extension of time had been sought. Mere issuance of show-cause notices did not amount to compliance, especially where repeated requests for a hearing had not been effectively addressed. On that ground, the show-cause notices issued in continuation of the remand were quashed.
Non-compliance with a remand direction requiring completion of penalty proceedings within 12 weeks rendered the reinitiated proceedings unsustainable. The record showed that no final order under the penalty provision had been passed within the stipulated period and no extension of time had been sought. Mere issuance of show-cause notices did not amount to compliance, especially where repeated requests for a hearing had not been effectively addressed. On that ground, the show-cause notices issued in continuation of the remand were quashed.
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