Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existin...
Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer...
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Consequential assessment following revision directions was confined to verifying DCF share valuation and projection assumptions; because the directions did not require treating share premium as unexplained cash credit, the Section 68 addition was deleted. Where valuation exceeded fair market value, Section 56(2)(viib), subject to its conditions, was identified as the relevant provision. For AY 2014-15, the unamended Section 68 required proof of creditor identity, transaction genuineness and lender creditworthiness, not source of source. Generalised treatment of lender evidence required limited lender-wise verification, so the unsecured-loan addition was remanded without a merits determination.
Consequential assessment following revision directions was confined to verifying DCF share valuation and projection assumptions; because the directions did not require treating share premium as unexplained cash credit, the Section 68 addition was deleted. Where valuation exceeded fair market value, Section 56(2)(viib), subject to its conditions, was identified as the relevant provision. For AY 2014-15, the unamended Section 68 required proof of creditor identity, transaction genuineness and lender creditworthiness, not source of source. Generalised treatment of lender evidence required limited lender-wise verification, so the unsecured-loan addition was remanded without a merits determination.
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