Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
The High Court held that an officer who had earlier issued audit observations could not thereafter pass the ex parte assessment order on the same matter. As the impugned adjudication orders were made by those very officers, the Court found the assessment to be without proper jurisdiction and quashed both the adjudication orders and the consequential recovery proceedings, including bank attachment. The matter was remitted to a proper officer for fresh consideration from the stage of reply to the show-cause notices.
The High Court held that an officer who had earlier issued audit observations could not thereafter pass the ex parte assessment order on the same matter. As the impugned adjudication orders were made by those very officers, the Court found the assessment to be without proper jurisdiction and quashed both the adjudication orders and the consequential recovery proceedings, including bank attachment. The matter was remitted to a proper officer for fresh consideration from the stage of reply to the show-cause notices.
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