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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The period for filing a return after a best judgment assessment was treated as directory, not mandatory. Once a belated return is filed, the provisional assessment made for non-filing does not survive and the matter must proceed in the regular course for further assessment for the year. On that basis, the impugned best judgment assessment order was quashed and the respondent was directed to complete further assessment in accordance with law.
The period for filing a return after a best judgment assessment was treated as directory, not mandatory. Once a belated return is filed, the provisional assessment made for non-filing does not survive and the matter must proceed in the regular course for further assessment for the year. On that basis, the impugned best judgment assessment order was quashed and the respondent was directed to complete further assessment in accordance with law.
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