Manual consolidated refund application permitted for export ITC where online refiling facility was unavailable. Issue Whether an exporter who withdrew online refund applications for accumulated Input Tax Credit (ITC) and got the credit re-credited to the electronic credit ledger can be permitted to file a manual consolidated refund application under Rule 97A due to the… Read More »
Stay of Tax Demand Granted as Reassessment Addition Violated Principles of Natural Justice Issue Violation of Natural Justice: Whether making a massive addition under Section 69C for un-reconciled import figures—without providing the assessee with the requested invoice-wise and bill-of-entry-wise breakup—violates the principles of natural justice, rendering the resulting demand stayable. Mandatory 20% Pre-Deposit for Stay:… Read More »
Failure to pass fresh assessment order within statutory limitation period invalidates demand and validates returned income Issue Whether the failure of the Assessing Officer to pass a fresh assessment order pursuant to a Tribunal remand within the extended limitation period prescribed under Section 153(3) read with Section 153(4) bars any demand from being raised and… Read More »
Goodwill qualifies as a depreciable intangible asset and Revenue cannot raise unpleaded issues before High Court Issue Whether goodwill is an intangible asset eligible for depreciation under Section 32 of the Income-tax Act, 1961. Whether the Revenue can raise a new issue before the High Court that was never raised before the Commissioner (Appeals) or… Read More »
Concurrent Findings Affirming Developer-Contractor Eligibility for Section 80-IA Infrastructure Deductions Upheld Under Section 260A Issue Whether an appeal under Section 260A raises a substantial question of law when authorities below concurrently hold that a road construction entity qualifies as a developer maintaining an infrastructure facility under Section 80-IA(4) rather than being merely a contractor. Facts… Read More »
No Section 14A disallowance without exempt income and premises vacation compensation is allowable revenue expenditure. Issue Whether any disallowance under Section 14A read with Rule 8D can be made in an assessment year where the assessee has earned no exempt income. Whether compensation paid by an assessee to secure vacant possession of premises taken on… Read More »
Reassessment notices under Sections 143(2) and 142(1) issued before disposing of objections are invalid. Issue Whether Section 143(2) and Section 142(1) notices issued prior to disposing of an assessee’s objections against reassessment reasons via a speaking order are legally sustainable. Whether issuing a Section 142(1) notice within four weeks of rejecting the assessee’s objections violates… Read More »
Section 14A Disallowance Cannot Exceed Exempt Income and Revenue Expenditure Is Fully Deductible In Incurred Year Issue Whether disallowance of expenditure under Section 14A of the Income-tax Act, 1961 can exceed the actual exempt income earned by the assessee during the relevant assessment year. Whether the Revenue can compel an assessee to spread over revenue… Read More »
Reassessment Notice Issued Beyond Three Years Void As Embedded Income Failed Rs 50 Lakh Threshold Issue Whether a reassessment notice under Section 148 issued beyond the 3-year limitation period is legally valid under Section 149(1)(b) when the actual income component embedded in gross contractual receipts is less than the statutory threshold of Rs. 50 lakhs.… Read More »
Reassessment Based on Change of Opinion on Verified Capital Gains and Exemption Claims Is Impermissible Issue Whether reassessment proceedings initiated under Section 148 based on information from the Insight Portal regarding the valuation and genuineness of a share transaction are legally sustainable when the transaction and Section 54F exemption claim were already examined and accepted… Read More »