Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
A reassessment notice issued beyond three years from the end of the relevant assessment year was held invalid because approval was taken from the wrong authority under section 151, so the reassessment for AY 2017-18 was quashed. Additions for alleged unexplained money, accommodation entries, commission, and suppressed gross profit were deleted because the Revenue relied on assumptions and dumb documents, while the assessee produced invoices, ledgers, stock records, GST material, and bank evidence and no corroborative material showed receipt of unaccounted cash. The Tribunal also held that valuation of unquoted shares under the assessee's chosen DCF method could not be replaced by the Assessing Officer's preferred method. For AY 2023-24, one cash issue was remanded for reconciliation, and on alleged unrecorded cash sales only the profit element was directed to be taxed.
A reassessment notice issued beyond three years from the end of the relevant assessment year was held invalid because approval was taken from the wrong authority under section 151, so the reassessment for AY 2017-18 was quashed. Additions for alleged unexplained money, accommodation entries, commission, and suppressed gross profit were deleted because the Revenue relied on assumptions and dumb documents, while the assessee produced invoices, ledgers, stock records, GST material, and bank evidence and no corroborative material showed receipt of unaccounted cash. The Tribunal also held that valuation of unquoted shares under the assessee's chosen DCF method could not be replaced by the Assessing Officer's preferred method. For AY 2023-24, one cash issue was remanded for reconciliation, and on alleged unrecorded cash sales only the profit element was directed to be taxed.
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