Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
The High Court considered the validity of reopening an assessment based on excess funds not being part of an "approved refund" and thus subject to taxation. The Court noted that the approval to hold the fund was withdrawn only from the date of the order, not before. The Tribunal found that the withdrawal of approval would only take effect from the date of the order, not earlier. Therefore, the notice issued for reopening the assessment was deemed invalid as the approval was still in effect at the time. The Tribunal rightly set aside the notice and subsequent reassessment order due to the lack of communication regarding the withdrawal of approval by the Commissioner.
The High Court considered the validity of reopening an assessment based on excess funds not being part of an "approved refund" and thus subject to taxation. The Court noted that the approval to hold the fund was withdrawn only from the date of the order, not before. The Tribunal found that the withdrawal of approval would only take effect from the date of the order, not earlier. Therefore, the notice issued for reopening the assessment was deemed invalid as the approval was still in effect at the time. The Tribunal rightly set aside the notice and subsequent reassessment order due to the lack of communication regarding the withdrawal of approval by the Commissioner.
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