Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Revision of an assessment as erroneous and prejudicial to Revenue cannot rest solely on the assessment order's failure to record reasons for accepting explanations. Where the Assessing Officer considered written submissions on unutilised CENVAT credit, excise-duty refund and additional depreciation on windmills, acceptance of those explanations does not make the assessment erroneous or prejudicial. The revisional order was annulled and the Revenue's appeal dismissed.
Revision of an assessment as erroneous and prejudicial to Revenue cannot rest solely on the assessment order's failure to record reasons for accepting explanations. Where the Assessing Officer considered written submissions on unutilised CENVAT credit, excise-duty refund and additional depreciation on windmills, acceptance of those explanations does not make the assessment erroneous or prejudicial. The revisional order was annulled and the Revenue's appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
