S. 154 : Rectification of mistake-Mistake apparent from the record-Survey-Stock offered-Assessed as business income-Rectification order is quashed. [S.69D, 115BBE, 143(3)]
S. 154 : Rectification of mistake-Mistake apparent from the record-Survey-Stock offered-Assessed as business income-Rectification order is quashed. [S.69D, 115BBE, 143(3)]
S. 154 : Rectification of mistake-Mistake apparent from the record-Limitation-Non-service of intimation under S. 143(1)-The four year limitation seeking rectification starts ticking the moment the assessee is in receipt of the order-Rejection of application being time barred is not justified.[S.80P(2), 143(1), 154(7)]
S. 153D : Assessment-Search-Approval–A common and consolidated approval has been granted-Approval is bad in law-Order is quashed. [S. 153A]
S. 153A: Assessment-Search-Unabated assessment-No incriminating material-Information from audited balance sheet-Addition is deleted. [S. 132]
S. 153A: Assessment-Search-Bank Locker in the name of assessee’s father-Search warrant in the name of assessee-Keys of the locker were found from the residential premises of the assessee-Issue of notice is valid-Long term capital gains on sale of equity shares-Addition is deleted.[S.68, 69C 132]
S. 153 : Assessment-Limitation-Date of order-Dispatch-Body of the assessment order, the date of passing of the order has been mentioned as 28th Dec., 2016-Assessment order was dispatched only on 2nd Jan., 2017 as per the postal track consignment-Assessment order is time barred.[S. 143(3)]
S. 147 : Reassessment-Repatriated the amounts invested in non-convertible debentures in the earlier years-No escapement of income-Reassessment notice and order is quashed.[S. 148]
S. 144C : Reference to dispute resolution panel-Order passed prior to issue of direction of DRP-Order passed after direction of DRP is not valid-Additional ground is admitted-Delay in filing of an appeal is condoned.[S.143(3), 144C(13), 253(5)]
S. 143(1) : Assessment-Intimation-Communication for adjustment was sent at the updated email address of the assessee is valid communication-Late payment of employees contribution-Disallowance is justified-Matter is remanded to the AO to find out any extension was granted under the relevant statutes for payment of employees’ contribution to ESI/ PF [36(1)(va ), 43B, 139(1), 282,R. 127(2)]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Reimbursement of third party cost for marketing and research-Expenses relating to advertisement were on buying of advertisement space in the newspapers-Pass through entities-Other than these three items, all other items should be considered as part of the cost base o and should be marked-up-Order of CIT(A) is affirmed.