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...
Reassessment proceedings were upheld as within limitation because the section 148A(b) notice was issued on 31.03.2022, and the time allowed for the assessee's response had to be excluded under the third proviso to section 149, with the balance period extended under the fourth proviso. As the reply was filed on 21.04.2022, the Assessing Officer had time until 21.05.2022 to pass the section 148A(d) order, so the 28.04.2022 order and consequential section 148 notice were timely. The Court also rejected the challenge that entries in books or survey material were not an "asset" under section 149(1)(b), holding the definition inclusive and the later amendment clarificatory.
Reassessment proceedings were upheld as within limitation because the section 148A(b) notice was issued on 31.03.2022, and the time allowed for the assessee's response had to be excluded under the third proviso to section 149, with the balance period extended under the fourth proviso. As the reply was filed on 21.04.2022, the Assessing Officer had time until 21.05.2022 to pass the section 148A(d) order, so the 28.04.2022 order and consequential section 148 notice were timely. The Court also rejected the challenge that entries in books or survey material were not an "asset" under section 149(1)(b), holding the definition inclusive and the later amendment clarificatory.
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