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Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Validity of reopening of assessment - The High Court notes that certain incomes were raised for the first time in the impugned order, without prior mention. Despite Petitioner's explanations and evidence, the Assessing Officer (AO) failed to justify dissatisfaction with the disclosures. The Court concludes that the impugned order was passed without proper application of mind, as evident from the lack of scrutiny by higher authorities. Consequently, the Court quashes the impugned order and the notice issued under Section 148 of the Act.
Validity of reopening of assessment - The High Court notes that certain incomes were raised for the first time in the impugned order, without prior mention. Despite Petitioner's explanations and evidence, the Assessing Officer (AO) failed to justify dissatisfaction with the disclosures. The Court concludes that the impugned order was passed without proper application of mind, as evident from the lack of scrutiny by higher authorities. Consequently, the Court quashes the impugned order and the notice issued under Section 148 of the Act.
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