Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Transfer and revision proceedings were held unsustainable where the assessee's objections were not followed by an effective hearing, and the revision record itself showed same-day show cause notices carrying different hearing dates without a plausible explanation. The court found that both the transfer order and the consequential revision order were passed in undue haste during the peak COVID period, when business operations and movement were severely restricted. Both orders were set aside for breach of natural justice and denial of a fair and reasonable opportunity of hearing, with liberty to initiate fresh proceedings in accordance with law.
Transfer and revision proceedings were held unsustainable where the assessee's objections were not followed by an effective hearing, and the revision record itself showed same-day show cause notices carrying different hearing dates without a plausible explanation. The court found that both the transfer order and the consequential revision order were passed in undue haste during the peak COVID period, when business operations and movement were severely restricted. Both orders were set aside for breach of natural justice and denial of a fair and reasonable opportunity of hearing, with liberty to initiate fresh proceedings in accordance with law.
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