Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Interrogatories are maintainable in oppression and mismanagement proceedings when they seek material facts directly connected with the pleaded allegations, and discovery and inspection may be ordered under the Companies Act, the Companies (Court) Rules and the Company Law Board Regulations read with the CPC. The court treated interrogatories on transfer of business, sale of assets, alternate land and stoppage of business as relevant and not a fishing, vexatious, oppressive or scandalous enquiry. Rejection on delay was unsustainable because the application was moved after pleadings were completed and no limitation applied. The rejection was set aside and the respondents were directed to answer the interrogatories.
Interrogatories are maintainable in oppression and mismanagement proceedings when they seek material facts directly connected with the pleaded allegations, and discovery and inspection may be ordered under the Companies Act, the Companies (Court) Rules and the Company Law Board Regulations read with the CPC. The court treated interrogatories on transfer of business, sale of assets, alternate land and stoppage of business as relevant and not a fishing, vexatious, oppressive or scandalous enquiry. Rejection on delay was unsustainable because the application was moved after pleadings were completed and no limitation applied. The rejection was set aside and the respondents were directed to answer the interrogatories.
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TaxTMI 
TaxTMI 
