Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Validity of grant of permission to the petitioner’s assessing authority, to re-assess the petitioner - The HC observed that, since, the assessing officer failed to make any specific order of assessment in terms of Section 29(6) of the Act till 30.09.2016, his powers to make the regular assessment stood exhausted. - The High court quashed the reassessment order dated 17.03.2021 and the permission granted for reassessment, deeming them nullities due to lack of jurisdiction and absence of a valid reason to believe that any part of the petitioner's turnover had escaped assessment.
Validity of grant of permission to the petitioner’s assessing authority, to re-assess the petitioner - The HC observed that, since, the assessing officer failed to make any specific order of assessment in terms of Section 29(6) of the Act till 30.09.2016, his powers to make the regular assessment stood exhausted. - The High court quashed the reassessment order dated 17.03.2021 and the permission granted for reassessment, deeming them nullities due to lack of jurisdiction and absence of a valid reason to believe that any part of the petitioner's turnover had escaped assessment.
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