The Tribunal held that revision under Section 263 is invalid without proving both error and revenue prejudice. The AO’s order was restored as valid.
The Tribunal held that reopening beyond three years requires escaped income in the form of an asset. Since bogus purchases are revenue items, the reassessment was declared invalid.
The case involved an addition based on AIR information regarding a property transaction. The Tribunal deleted the addition after finding that the assessee’s documentary evidence remained unchallenged by the department.
The tribunal held that the safe harbour limit applies to valuation determined by the DVO, not just stamp duty value. It ruled in favour of the assessee as the variation was within 10%.
The Tribunal held that the maintainability of the appeal must be based on the correct tax effect and not erroneous figures in Form 36. Since the actual tax effect was below the CBDT threshold, the appeal was dismissed, reinforcing strict adherence to monetary limits.
The Court held that Tribunal remand is not a fresh reference under transfer pricing law. Hence, limitation expired earlier, entitling the assessee to refund.
The court held that granting status quo over the full property was disproportionate to the plaintiff’s limited claim. It set aside the injunction for failing to consider balance of convenience.
The Tribunal held that delay due to lack of awareness and administrative oversight constituted sufficient cause. It set aside the rejection as the condonation request was not considered and remanded the case.
Tribunal examined whether assembly of RLMS units under a turnkey contract constituted manufacture. It held that on-site assembly and integration of components did not result in excisable goods. The ruling clarifies that such project-based activities are not liable to excise duty.
The Tribunal examined whether fund transfers to overseas branches constituted taxable services. It found no evidence of any service being rendered or received in India. The ruling held that mere transfer of funds for operational expenses does not attract service tax.
