Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Reopening of assessment was upheld where the recorded reasons showed fresh tangible material from impounded documents and a director's statement, and the assessee had not fully disclosed the crucial Clause 7 entitlement to 35% of gross sale receipts; no earlier opinion on the receipt's true character had been formed, so change of opinion did not apply. The Court also held that reopening must stand or fall on the recorded reasons alone. On the merits, the assessee's 35% entitlement under the AOP agreement was not a share of profit, because it arose from gross receipts before project expenses and was diverted by overriding title; it was therefore taxable as business income.
Reopening of assessment was upheld where the recorded reasons showed fresh tangible material from impounded documents and a director's statement, and the assessee had not fully disclosed the crucial Clause 7 entitlement to 35% of gross sale receipts; no earlier opinion on the receipt's true character had been formed, so change of opinion did not apply. The Court also held that reopening must stand or fall on the recorded reasons alone. On the merits, the assessee's 35% entitlement under the AOP agreement was not a share of profit, because it arose from gross receipts before project expenses and was diverted by overriding title; it was therefore taxable as business income.
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