Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Allocation of pecuniary jurisdiction under CBDT Instruction No. 01/2011 is described as a jurisdictional requirement for issuing a scrutiny notice under section 143(2), rather than a mere procedural formality. For a non-corporate assessee in a metro city whose returned income is below the prescribed limit, jurisdiction lies with the ITO, while a notice issued by the ACIT is treated as lacking legal authority. The notes further state that such an additional legal ground may be admitted when it goes to the root of the matter and requires no further factual verification. Without a fresh notice from the competent officer, the assessment is described as vitiated and liable to be quashed.
Allocation of pecuniary jurisdiction under CBDT Instruction No. 01/2011 is described as a jurisdictional requirement for issuing a scrutiny notice under section 143(2), rather than a mere procedural formality. For a non-corporate assessee in a metro city whose returned income is below the prescribed limit, jurisdiction lies with the ITO, while a notice issued by the ACIT is treated as lacking legal authority. The notes further state that such an additional legal ground may be admitted when it goes to the root of the matter and requires no further factual verification. Without a fresh notice from the competent officer, the assessment is described as vitiated and liable to be quashed.
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