Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Reassessment notices issued under the new regime were held time-barred because, for notices originally issued between 01/04/2021 and 30/06/2021, only the surviving time available up to 30/06/2021 could be used after excluding the stayed period and the two weeks allowed for response. Applying the Supreme Court rulings in Rajeev Bansal and Ashish Agarwal, the Tribunal held that the fresh notice had to be issued within the remaining limitation under section 149. In this case, the notice issued on 25/07/2022 exceeded that limit, so the reassessment proceedings and assessment orders were quashed, with other grounds left open.
Reassessment notices issued under the new regime were held time-barred because, for notices originally issued between 01/04/2021 and 30/06/2021, only the surviving time available up to 30/06/2021 could be used after excluding the stayed period and the two weeks allowed for response. Applying the Supreme Court rulings in Rajeev Bansal and Ashish Agarwal, the Tribunal held that the fresh notice had to be issued within the remaining limitation under section 149. In this case, the notice issued on 25/07/2022 exceeded that limit, so the reassessment proceedings and assessment orders were quashed, with other grounds left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
