Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Rule 46A permits additional evidence before the first appellate authority only in the specified circumstances, and the permission must be supported by a written, reasoned order; the Assessing Officer must also be given a mandatory opportunity to examine and rebut that evidence in compliance with audi alteram partem. Here, no reasons were recorded for admitting the additional evidence and no material showed that the Assessing Officer was afforded any real opportunity to rebut it. The Tribunal therefore erred in sustaining the Commissioner (Appeals)' order. The Tribunal and Commissioner (Appeals) orders were set aside, and the matter was remanded for a fresh speaking order on admission of additional evidence and, if admitted, an opportunity to the Assessing Officer to rebut it.
Rule 46A permits additional evidence before the first appellate authority only in the specified circumstances, and the permission must be supported by a written, reasoned order; the Assessing Officer must also be given a mandatory opportunity to examine and rebut that evidence in compliance with audi alteram partem. Here, no reasons were recorded for admitting the additional evidence and no material showed that the Assessing Officer was afforded any real opportunity to rebut it. The Tribunal therefore erred in sustaining the Commissioner (Appeals)' order. The Tribunal and Commissioner (Appeals) orders were set aside, and the matter was remanded for a fresh speaking order on admission of additional evidence and, if admitted, an opportunity to the Assessing Officer to rebut it.
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