Ex-Parte Reassessment Order Passed Without Adjudication on Merits Remanded to Assessing Officer for Fresh Decision Issue Whether an ex-parte assessment order passed under Section 144 read with Section 144B and affirmed ex-parte by CIT(A) without deciding the matter on merits should be set aside and remanded back to the Assessing Officer for fresh adjudication. Facts… Read More »
Addition Under Section 68 Unjustified as Demonetization Cash Deposits Were Supported by Verified Bullion Sales Issue Whether cash deposits made during the demonetization period out of recorded bullion and jewellery sales can be treated as unexplained cash credit under Section 68 read with Section 115BBE when stock records, purchases, and sales remain undisputed. Facts Business… Read More »
Rejection of Registration for Selecting Wrong Sub-Clause Unjustified; Matter Remanded for Rectification and Consideration Issue Whether the CIT(E) was justified in rejecting an application for regularisation of provisional registration under Section 12AB filed in Form 10AB solely because the trust selected the wrong sub-clause in the form. Facts Assessee Profile: The assessee is a trust… Read More »
Form 10B Accepted Within Extended Return Due Date Constitutes Valid Compliance Entitling Section 11 Exemption Issue Whether uploading Form 10B on the due date of the return and formal trustee acceptance on the next day—prior to the extended return deadline—satisfies Section 12A(1)(b) compliance, making disallowance under Section 143(1) and rejection of condonation under Section 119(2)(b)… Read More »
Revisional Order Under Section 263 Invalid as Interest Under Section 28 Land Acquisition Act Forms Exempt Compensation Issue Whether interest received under Section 28 of the Land Acquisition Act, 1894 forms part of compensation exempt under Section 10(37), and whether the PCIT/CIT can invoke revision under Section 263 where the Assessing Officer accepted the claim… Read More »
Swiss Affiliate (EXP-IN) Not a DAPE; Business Profits Not Taxable in India, Reassessment Sanctions Held Valid Issues Agency Permanent Establishment (DAPE): Whether the Swiss assessee’s Indian affiliate (EXP-IN) constituted a Dependent Agent Permanent Establishment (DAPE) in India under Article 5(5) of the India–Switzerland DTAA, making its revenue taxable in India. Validity of Reassessment Sanction: Whether… Read More »