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...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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Reassessment initiated after three years from the end of the relevant assessment year required approval from the authority specified in section 151(ii). The Finance Act 2023 proviso to section 151, effective from 1 April 2023, operated prospectively and could not be treated as retrospective merely as a clarification. Extensions or exclusions under section 149 could not be imported into section 151 to extend the three-year period. As sanction under section 151 is a jurisdictional condition precedent, approval by the Principal Commissioner instead of the specified competent authority rendered the notice, order under section 148A(d), and consequential reassessment proceedings void ab initio and liable to be quashed.
Reassessment initiated after three years from the end of the relevant assessment year required approval from the authority specified in section 151(ii). The Finance Act 2023 proviso to section 151, effective from 1 April 2023, operated prospectively and could not be treated as retrospective merely as a clarification. Extensions or exclusions under section 149 could not be imported into section 151 to extend the three-year period. As sanction under section 151 is a jurisdictional condition precedent, approval by the Principal Commissioner instead of the specified competent authority rendered the notice, order under section 148A(d), and consequential reassessment proceedings void ab initio and liable to be quashed.
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