Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
Reassessment of short-term capital loss attributed to a mutual fund's alleged accounting manipulation is impermissible when the allegations are identical to those previously considered in a final, applicable determination. Where scrutiny assessment specifically examined the loss and the taxpayer's explanation, reopening requires fresh tangible material beyond the material already assessed; otherwise it constitutes a change of opinion. On both grounds, the reassessment order and consequential notice were quashed.
Reassessment of short-term capital loss attributed to a mutual fund's alleged accounting manipulation is impermissible when the allegations are identical to those previously considered in a final, applicable determination. Where scrutiny assessment specifically examined the loss and the taxpayer's explanation, reopening requires fresh tangible material beyond the material already assessed; otherwise it constitutes a change of opinion. On both grounds, the reassessment order and consequential notice were quashed.
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