Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Validity of Faceless assessment - procedure contemplated u/s 144B - The petitioner contended that their objections and replies were not considered before passing the assessment order, contrary to the procedures outlined in Section 144B(1)(vii), (xiv), and (xvi)(b) of the Act. The High Court found merit in this argument, noting that the failure to consider the petitioner's responses violated procedural requirements, thereby vitiating the assessment proceedings. - Matter restored back for fresh adjudication.
Validity of Faceless assessment - procedure contemplated u/s 144B - The petitioner contended that their objections and replies were not considered before passing the assessment order, contrary to the procedures outlined in Section 144B(1)(vii), (xiv), and (xvi)(b) of the Act. The High Court found merit in this argument, noting that the failure to consider the petitioner's responses violated procedural requirements, thereby vitiating the assessment proceedings. - Matter restored back for fresh adjudication.
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