Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Validity of reopening of assessment u/s 147 r.w.s. 148A(b) - Petitioner claimed that despite certain transactions being booked under the PAN of erstwhile company (amalgamated company) due to an error, they had correctly considered all transactions in their return. - The court found merit in the petitioner's contention regarding the lack of proper application of mind in granting approval under Section 151. They observed discrepancies in the approval process, indicating a failure to review the request and draft order adequately. Consequently, the court deemed it appropriate to quash the order under Section 148A(d) of the Act and the consequent notice issued under Section 148.
Validity of reopening of assessment u/s 147 r.w.s. 148A(b) - Petitioner claimed that despite certain transactions being booked under the PAN of erstwhile company (amalgamated company) due to an error, they had correctly considered all transactions in their return. - The court found merit in the petitioner's contention regarding the lack of proper application of mind in granting approval under Section 151. They observed discrepancies in the approval process, indicating a failure to review the request and draft order adequately. Consequently, the court deemed it appropriate to quash the order under Section 148A(d) of the Act and the consequent notice issued under Section 148.
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