Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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Under section 73, a summary in Form DRC-01 cannot replace the statutory show cause notice, and notice, statement and order must be issued and authenticated by the proper officer. The text notes that non-compliance makes the initiation ineffective, leading to quashing of the order in original while preserving the summary already issued and allowing a fresh notice. For de novo proceedings, the fresh notice relates back to the date of the summary, and the intervening period is excluded while computing limitation for passing the adjudication order.
Under section 73, a summary in Form DRC-01 cannot replace the statutory show cause notice, and notice, statement and order must be issued and authenticated by the proper officer. The text notes that non-compliance makes the initiation ineffective, leading to quashing of the order in original while preserving the summary already issued and allowing a fresh notice. For de novo proceedings, the fresh notice relates back to the date of the summary, and the intervening period is excluded while computing limitation for passing the adjudication order.
Note: It is a system-generated summary and is for quick reference only.
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