PIL Seeking ‘Authoritative Interpretation’ of Section 66 PMLA Refused by Delhi High Court  ||  All. HC: Can’t Declare Transaction Benami on Contractor’s Statement Without Relevant Material  ||  Del. HC: Denying ITC to Taxpayers One of the Outcomes of GST Registration Cancell. with Retrospect  ||  Cal HC: Penalty Amount on Higher Value than Invoice Value Can’t be Computed by GST Dep. w/o Evidence  ||  All. HC: Candidates with Criminal Background Will Pose Severe Threat to Democracy if Elected  ||  All. HC: It’s an Obligation of Bank Officials to Fully Co-operate in Criminal Investigations  ||  SC: Prima Facie Case Made Out from Allegations in Complaint Sufficient to Summon Accused  ||  Supreme Court Explains: Debt Becoming Financial & Operational Debt  ||  P&H HC: Model Code of Conduct Can’t Stand in Way of Execution of Judicial Order  ||  Chh. HC: Can’t Build Matrimonial Home With Bricks & Stones, Love & Respect Between Spouses Required    

SC: In the Absence of Incriminating Material, AO Can’t Make Additions to Completed Assessment - (26 Apr 2023)

DIRECT TAXATION

Supreme Court has held that in case of completed assessment, if no incriminating material is found during search, the only remedy available to revenue department would be to initiate reassessment proceedings under Sections 147/148 of Income-Tax Act, 1961.

Tags : SUPREME COURT   INCRIMINATING MATERIAL   COMPLETED ASSESSMENT   REASSESSMENT  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved