Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
An assessee-company's residential status for tax purposes had to be determined on the factual and legal basis for locating its place of effective management, not on the institutional status of the authority that earlier considered the matter. The Tribunal found that the material showing effective control was not exercised abroad had merit, and that the Assessing Officer had not rebutted the factual foundation relied on to place POEM in India. As the first appellate authority accepted that the collegium's basis lacked merit, it could not sustain the assessment merely because it was reluctant to differ from that collegium. The POEM finding in India was therefore unsustainable, and the global income addition was deleted.
An assessee-company's residential status for tax purposes had to be determined on the factual and legal basis for locating its place of effective management, not on the institutional status of the authority that earlier considered the matter. The Tribunal found that the material showing effective control was not exercised abroad had merit, and that the Assessing Officer had not rebutted the factual foundation relied on to place POEM in India. As the first appellate authority accepted that the collegium's basis lacked merit, it could not sustain the assessment merely because it was reluctant to differ from that collegium. The POEM finding in India was therefore unsustainable, and the global income addition was deleted.
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