Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Challenged the show cause notice issued - mergers and de-mergers - The petitioner argues that the show cause notice was issued in the name of a company, M/s.Fabritex Exports Pvt Ltd, which has ceased to exist due to mergers and de-mergers. - The High Court held that, the benefit of advance license was availed by the Noticee (transferor) and it had filed to discharge its obligation under the advance license, the liability has to be discharged by the transferee company as its successor. As a transferee company, the petitioner cannot state that the liability of the noticee company stood extinguished on account of its merger /amalgamation with it. - Consequently, the HC dismissed the writ petition.
Challenged the show cause notice issued - mergers and de-mergers - The petitioner argues that the show cause notice was issued in the name of a company, M/s.Fabritex Exports Pvt Ltd, which has ceased to exist due to mergers and de-mergers. - The High Court held that, the benefit of advance license was availed by the Noticee (transferor) and it had filed to discharge its obligation under the advance license, the liability has to be discharged by the transferee company as its successor. As a transferee company, the petitioner cannot state that the liability of the noticee company stood extinguished on account of its merger /amalgamation with it. - Consequently, the HC dismissed the writ petition.
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