9911796707
TMI Blog2024 (9) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... hold that the appellant and its buyers Vandana and Shivali are interconnected undertakings and there is no allegation or evidence that they are related in any other manner. Even if they are inter-connected undertakings but are not related in any other manner, valuation has to be done as per Valuation Rule 10(b) as if they are not related persons and the demand would not sustain.' - This order was passed setting side the order-in-appeal dated 15.02.2018 passed by the Commissioner (Appeals) for the relevant period. In the present appeal, the Assistant Commissioner and the Commissioner (Appeals) followed the previous order of the Commissioner (Appeals) dated 15.02.2018. Since the order dated 15.02.2018 is set aside, this appeal also needs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... limitation can be invoked as per Section 11A and such an interpretation of Section 11A renders the provision related to the normal period of limitation under section 11A otiose. c) The assessee can make mistakes in self-assessment but the Rules mandate the officers to scrutinize the returns and call for documents and records from the assessee. d) Scrutiny by the officers is a check provided under the Rules against any mistakes in self-assessment. If any duty escapes assessment, a demand can be issued within the normal period of limitation. e) The period of limitation under section 11A is to be reckoned from the date of filing of the Return or the last date for filing the Return. If the Return is filed, the officer gets sufficient time to sc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pheld the demand invoking Valuation Rules 11 read with Rules 9 10 which were not invoked in the SCN; j) For the normal period of limitation after 2013, the Valuation Rules as amended, would apply. They were neither discussed nor invoked and the demand was confirmed as per the un-amended Valuation Rules. k) Evidence in the case is insufficient to hold that the appellant and its buyers Vandana and Shivali are interconnected undertakings and there is no allegation or evidence that they are related in any other manner. Even if they are inter-connected undertakings but are not related in any other manner, valuation has to be done as per Valuation Rule 10(b) as if they are not related persons and the demand would not sustain . 4. This order was p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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