Headings and provisions are harmonised to include section 84 entries. The key outcome is uniform treatment across export documentation.
ITAT Delhi quashed reassessment issued beyond three years where alleged escapement was only ₹35 lakh. Section 149 bars reopening unless the ₹50-lakh threshold is satisfied.
ITAT Chennai held that loss on sale of shares must be treated as long-term capital loss. Wrong accounting classification cannot convert it into a disallowable expense.
The Tribunal held that an assessment framed without issuing a compulsory notice under section 153C lacks jurisdiction. Even seized material cannot cure this foundational defect, rendering the order void ab initio.
The Tribunal held that reassessment is invalid where the mandatory notice under Section 143(2) is issued beyond the prescribed time limit. Absence of a valid and timely notice strikes at the very jurisdiction of the Assessing Officer.
ITAT Delhi held that reassessment based on mechanical approval is invalid in law. Sanction must reflect independent application of mind by the approving authority.
The issue was whether stamp duty value as on registration could override actual consideration received earlier. The Tribunal held that section 50C is a machinery provision and cannot be applied mechanically to post-transfer market increases.
The court ruled that a CBIC circular on deemed exports cannot block ITC refunds for actual exporters. Refunds under Section 54(3) must follow the statute when no deemed export benefits are claimed.
The Tribunal held that incorrect selection of a clause in Form 10AB is a curable clerical mistake. Registration applications cannot be rejected without examining the trust’s objects and activities on merits.
The article explains that once fraud-based proceedings fail, demands cannot be revived under Section 73 if limitation has expired. Statutory time limits remain mandatory and jurisdictional.
