Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Stakeholder-list modification permits liquidators to update entries on new information, subject to notifying the Adjudicating Authority within prescri...
Validity of reopening of assessment - Petitioner received another notice u/s 148A(b) once again, alleging escapement of income - The High Court quashed and set aside the impugned order dated 24th March 2023, along with the order passed under Section 148 of the Act. The High Noted that the second notice lacked clarity and failed to explain how there was any escapement of income. Additionally, the assessment order based on this notice was passed without proper consideration of crucial information. The assessment order was flawed as it did not refer to certain crucial information and indicated a lack of application of mind by the Assessing Officer and the Principal Chief Commissioner of Income Tax.
Validity of reopening of assessment - Petitioner received another notice u/s 148A(b) once again, alleging escapement of income - The High Court quashed and set aside the impugned order dated 24th March 2023, along with the order passed under Section 148 of the Act. The High Noted that the second notice lacked clarity and failed to explain how there was any escapement of income. Additionally, the assessment order based on this notice was passed without proper consideration of crucial information. The assessment order was flawed as it did not refer to certain crucial information and indicated a lack of application of mind by the Assessing Officer and the Principal Chief Commissioner of Income Tax.
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TaxTMI 
TaxTMI 
