Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
Challenge-mechanism compliance clarifications permitted, while unilateral revised resolution plans may be refused under creditors' commercial discreti...
Time-barred DRP objections leave no valid objections for consideration. The AO must complete the assessment under section 144C(4)(b) on the basis of the draft order within the prescribed period and cannot await the DRP's disposal of belated objections. Statutory limitation binds both the assessee and the Revenue. A final assessment issued after that period because of such delay is barred by limitation, void ab initio, and liable to be quashed; merits need not be considered.
Time-barred DRP objections leave no valid objections for consideration. The AO must complete the assessment under section 144C(4)(b) on the basis of the draft order within the prescribed period and cannot await the DRP's disposal of belated objections. Statutory limitation binds both the assessee and the Revenue. A final assessment issued after that period because of such delay is barred by limitation, void ab initio, and liable to be quashed; merits need not be considered.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
