Pune ITAT rules that
service of notice u/s. 143(2) on the manager of assessee-firm and not partners,
would not invalidate the assessment proceedings for AY 2010-11; Observes that
though the assessee had raised objection before the AO during the course of
assessment proceedings itself that the notice was not properly served, the
authorized representative (AR) of the assessee appearing before the AO gave his
‘no objection’ for furthering the assessment proceedings; ITAT remarks that
“the proviso to section 292BB of the Act, which was triggered by raising an
initial objection before the AO, was given a go by and got set to rest by the
ld. AR not objecting to such objection in terms of order sheet entry..”; ITAT
rules that once the proviso is held to be inapplicable, the main provision of
Sec. 292BB gets magnetized, which deems proper service of notice on assessee;
Further clarifies that once an assessee empowers his AR to appear in the income
tax proceedings and undertakes to ratify his acts, there is no need to ignore
any concession made by the ld. AR and personally call upon the assessee to make
concession in every case, distinguishes assessee’s reliance on SC ruling in
Himalayan Cooperative Group Housing Society on facts:ITAT
Subscribe to:
Post Comments (Atom)
ITAT: Property Received on Family Trust Dissolution Qualifies as ‘Devolution’, Long-Term Capital Gains Tax Applies
Under income tax law, when a capital asset is acquired by way of succession, inheritance or devolution, the cost of acquisition is deemed to...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Recent judicial pronouncements across different forums have clarified several important aspects of Indian income tax law, particularly relat...
-
An eminent concern within the GST framework pertains to the entitlement of Input Tax Credit (ITC) concerning expenditures associated with In...
-
The transition to the Income-tax Act, 2025 (ITA 2025) and the accompanying Income-tax Rules, 2026 introduces a significantly overhauled co...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
The overall effective tax rate of a U.S. multinational corporation may have significant impact on the value of its stock. Therefore, it ...
-
Introduction: India's Green Economy and the Tax Conundrum India stands as a global powerhouse in the fight against climate change, c...
-
In a landmark ruling, the ITAT, Hyderabad Bench, in the case of Amith Vishnaw Gudimela, held that a delay in filing Form-67 cannot be the so...
-
Clarifications from the GST Council The GST Council has recommended the following clarifications on ISD and cross charge:
-
The Delhi High Court held that interest earned on funds temporarily parked in bank deposits during the project setup phase is capital in n...
No comments:
Post a Comment