Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Page of 4805
Press 'Enter' after typing page number.
1221 to 1240 of 96092 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The case before the Allahabad High Court involved the validity of reassessment proceedings initiated by the assessing authority based on information that the purchaser did not exist. The court held that the decision to initiate reassessment was based on relevant information and the suggestion of income escapement. The non-existence of the purchaser was supported by the purchaser's lack of response to notices and statements from a third party. The court noted that the existence of the purchaser company on the MCA portal was not a mandatory condition for reassessment. The court emphasized that the assessing officer's decision to initiate reassessment was based on the information received and the suggestion of income escapement, rather than a strict "reason to believe" requirement. The court dismissed the writ petition, allowing the assessment proceedings to continue in accordance with the law.
The case before the Allahabad High Court involved the validity of reassessment proceedings initiated by the assessing authority based on information that the purchaser did not exist. The court held that the decision to initiate reassessment was based on relevant information and the suggestion of income escapement. The non-existence of the purchaser was supported by the purchaser's lack of response to notices and statements from a third party. The court noted that the existence of the purchaser company on the MCA portal was not a mandatory condition for reassessment. The court emphasized that the assessing officer's decision to initiate reassessment was based on the information received and the suggestion of income escapement, rather than a strict "reason to believe" requirement. The court dismissed the writ petition, allowing the assessment proceedings to continue in accordance with the law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
