Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
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Transitional input tax credit under Section 140 must be examined within its own confined jurisdiction, and issues falling within MVAT proceedings cannot be imported without a proper Section 140 analysis. The appellate authority's findings were vague, non-speaking and did not show a legally structured consideration of the limited credit issue. The High Court therefore set aside the appellate order and remanded the matter for fresh, independent adjudication on transitional input tax credit after hearing both sides, with all contentions left open.
Transitional input tax credit under Section 140 must be examined within its own confined jurisdiction, and issues falling within MVAT proceedings cannot be imported without a proper Section 140 analysis. The appellate authority's findings were vague, non-speaking and did not show a legally structured consideration of the limited credit issue. The High Court therefore set aside the appellate order and remanded the matter for fresh, independent adjudication on transitional input tax credit after hearing both sides, with all contentions left open.
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