Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Validity of assessment order passed u/s 153C/143(3) against Settlement Commission order - The Tribunal found the reassessment to infringe upon the principles laid out by the ITSC, which had already settled the income at 8% of the receipts from the water pipeline project. The reassessment was deemed impermissible in law, rendering the impugned order dated 30.12.2019 passed u/s 153C/153A/143(3) as invalid. Consequently, all additions made therein were deleted.
Validity of assessment order passed u/s 153C/143(3) against Settlement Commission order - The Tribunal found the reassessment to infringe upon the principles laid out by the ITSC, which had already settled the income at 8% of the receipts from the water pipeline project. The reassessment was deemed impermissible in law, rendering the impugned order dated 30.12.2019 passed u/s 153C/153A/143(3) as invalid. Consequently, all additions made therein were deleted.
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