Habeas corpus challenge to arrest safeguards remains maintainable, but substantial compliance with reasons-to-believe requirement defeats the petition...
Page of 4805
Press 'Enter' after typing page number.
3081 to 3100 of 96092 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reassessment after four years was impermissible because the recorded reasons did not establish any failure to disclose fully and truly all material facts. The information relied on for reopening-the nature of the business, licence arrangement, Indian company status, shareholding structure and related particulars-was already disclosed in the return, annual report, tax audit report and Form 3CEB, and the reasons merely asserted nondisclosure without identifying any specific undisclosed fact. On the section 80-IA issue, the reasons were also found erroneous: the relevant enterprise was the container terminal undertaking owned by the Indian assessee, and the Revenue had overlooked the assessee's own development activity and installation of terminal equipment. The reopening notice and consequential orders were quashed.
Reassessment after four years was impermissible because the recorded reasons did not establish any failure to disclose fully and truly all material facts. The information relied on for reopening-the nature of the business, licence arrangement, Indian company status, shareholding structure and related particulars-was already disclosed in the return, annual report, tax audit report and Form 3CEB, and the reasons merely asserted nondisclosure without identifying any specific undisclosed fact. On the section 80-IA issue, the reasons were also found erroneous: the relevant enterprise was the container terminal undertaking owned by the Indian assessee, and the Revenue had overlooked the assessee's own development activity and installation of terminal equipment. The reopening notice and consequential orders were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
