Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
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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