Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
The ITAT held that the Assessing Officer and the DRP were bound to decide the assessee's jurisdictional objection based on resident status before passing the final assessment order. Because residential status under section 6 was required to be verified from the record, including the passport, and that exercise had not been undertaken, the objection remained unadjudicated and went to the root of jurisdiction. The final assessment order was therefore set aside and the matter remanded to the DRP for adjudication of that issue, while the additions on merits were left open.
The ITAT held that the Assessing Officer and the DRP were bound to decide the assessee's jurisdictional objection based on resident status before passing the final assessment order. Because residential status under section 6 was required to be verified from the record, including the passport, and that exercise had not been undertaken, the objection remained unadjudicated and went to the root of jurisdiction. The final assessment order was therefore set aside and the matter remanded to the DRP for adjudication of that issue, while the additions on merits were left open.
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