Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Section 153D approval of draft search-assessment orders operates as a safeguard against arbitrary assessment and requires independent application of mind to the material and reasoning for each assessment year. A consolidated approval that does not record examination or movement of files, provide separate year-wise approvals, or state reasons is mechanical and fails the prior-approval requirement. Such defective approval invalidates the consequential assessment order; the assessment was therefore treated as void and quashed, while the remaining grounds were left open.
Section 153D approval of draft search-assessment orders operates as a safeguard against arbitrary assessment and requires independent application of mind to the material and reasoning for each assessment year. A consolidated approval that does not record examination or movement of files, provide separate year-wise approvals, or state reasons is mechanical and fails the prior-approval requirement. Such defective approval invalidates the consequential assessment order; the assessment was therefore treated as void and quashed, while the remaining grounds were left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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