Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Reassessment beyond three years under section 149(1)(b) was unavailable because the Assessing Officer did not possess material showing escapement of income represented in the form of an asset of fifty lakh rupees or more. The order under section 148A(d) was found non-speaking, as it failed to explain why the housing loan sanction letter, bank statements and other supporting documents were unacceptable; the property purchase was substantially explained by the loan, and any remaining unexplained amount stayed below the statutory threshold. The notice under section 148 was therefore barred by limitation, the reopening was treated as a roving and fishing enquiry, and the section 148A(d) order, notice under section 148, and consequential assessment under section 147 were quashed.
Reassessment beyond three years under section 149(1)(b) was unavailable because the Assessing Officer did not possess material showing escapement of income represented in the form of an asset of fifty lakh rupees or more. The order under section 148A(d) was found non-speaking, as it failed to explain why the housing loan sanction letter, bank statements and other supporting documents were unacceptable; the property purchase was substantially explained by the loan, and any remaining unexplained amount stayed below the statutory threshold. The notice under section 148 was therefore barred by limitation, the reopening was treated as a roving and fishing enquiry, and the section 148A(d) order, notice under section 148, and consequential assessment under section 147 were quashed.
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