Non production of party implications during assessment
Mere non-production of the party during assessment alone cannot be a basis to make disallowance, when all other supporting evidence…
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Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Meeting of objections guidelines
In meeting objections to the reopening the AO is bound by law to pass a reasoned order. The Bombay High…
......Read MoreClosed Inquiry u/s 133(6) whether can prevent upon AO to issue notice u/s 148
Section 133(6) can be issued during the assessment or even otherwise with prior approval of senior authority. Once a query…
......Read MoreNon disclosure of reimbursements
Non-disclosure of the amount of reimbursement of expenses, non-submission of the details of expenses incurred for verification during the assessment…
......Read MoreWhen to challenge
Taxpayer has a right to ask for a speaking order. Further a Challenge to a non speaking order on objections…
......Read MoreCompensate taxpayer for costs of litigation for failure to follow strict procedures of law
The High court in [2022] 20 ITR-OL 1 (Guj) held that the new regime of section 148A should be strictly followed so as…
......Read MoreInter department arrangement cannot have impact on limitations under the Act
The transfer of the files from one TP charge to the other cannot extend the time for assessment and can…
......Read MoreOpportunity or adequate opportunity —- the unsolved question!!
Section 142/143 assessment scheme says that assessee be given ‘opportunity’ for the purpose of assessment. The word ‘adequate’ is missing. …
......Read MoreGross breach of natural justice
In their classic order in (2001) 249ITR554 the Supreme Court upheld the High Court decision quashing/setting it aside the ex…
......Read MoreUpdate personal details at income tax portal as well as in permanent PAN database
Updated jurisdictional details as well personal details in the Income-tax Web Portal are vital for the communication of notice, summons,…
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