Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Reassessment under section 148 was quashed because the recorded reasons were vague, factually inconsistent and unsupported by an independent application of mind. The Tribunal found that the Assessing Officer relied on portal information and investigation material alleging fictitious profit, but the reassessment order treated the same figure differently and failed to maintain the very basis on which jurisdiction was assumed. No live nexus was shown between the material and escapement of income, and the assessee's purchase, sale, bank and D-Mat records were not dislodged by adverse material. The reopening was held to rest on borrowed satisfaction, so the reassessment was unsustainable and the merits were not examined.
Reassessment under section 148 was quashed because the recorded reasons were vague, factually inconsistent and unsupported by an independent application of mind. The Tribunal found that the Assessing Officer relied on portal information and investigation material alleging fictitious profit, but the reassessment order treated the same figure differently and failed to maintain the very basis on which jurisdiction was assumed. No live nexus was shown between the material and escapement of income, and the assessee's purchase, sale, bank and D-Mat records were not dislodged by adverse material. The reopening was held to rest on borrowed satisfaction, so the reassessment was unsustainable and the merits were not examined.
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