Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Reassessment within four years still required a live basis for "reason to believe"; the Court held that reopening cannot rest on a mere review of a concluded scrutiny assessment. Where the assessee had already replied to queries and furnished supporting material, those issues were treated as examined even if not expressly discussed in the assessment order. The reopening on deductions and depreciation claims was therefore a change of opinion, and the only asserted fresh basis, an audit objection, was not tangible material. The notice under Section 148 and the order rejecting objections were quashed as beyond jurisdiction.
Reassessment within four years still required a live basis for "reason to believe"; the Court held that reopening cannot rest on a mere review of a concluded scrutiny assessment. Where the assessee had already replied to queries and furnished supporting material, those issues were treated as examined even if not expressly discussed in the assessment order. The reopening on deductions and depreciation claims was therefore a change of opinion, and the only asserted fresh basis, an audit objection, was not tangible material. The notice under Section 148 and the order rejecting objections were quashed as beyond jurisdiction.
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