Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Revisional jurisdiction under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. Revision cannot rest merely on Insight Portal information that the Assessing Officer already examined during reassessment, where the officer considered explanations and supporting evidence showing that the alleged accommodation-entry transactions did not concern the assessee. The revisional authority must identify discrepancies in the material examined or conduct further inquiry; it cannot substitute its view merely because additional inquiry was possible. Sufficient inquiry by the Assessing Officer distinguishes an impermissible review for allegedly inadequate inquiry from a valid revision based on lack of inquiry.
Revisional jurisdiction under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. Revision cannot rest merely on Insight Portal information that the Assessing Officer already examined during reassessment, where the officer considered explanations and supporting evidence showing that the alleged accommodation-entry transactions did not concern the assessee. The revisional authority must identify discrepancies in the material examined or conduct further inquiry; it cannot substitute its view merely because additional inquiry was possible. Sufficient inquiry by the Assessing Officer distinguishes an impermissible review for allegedly inadequate inquiry from a valid revision based on lack of inquiry.
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TaxTMI 
TaxTMI 
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