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...
Notices issued by Jurisdictional Assessing Officer (JAO) u/s 148 instead of Faceless Assessment Officer (FAO) are invalid after introduction of Finance Act 2021. Scheme of faceless assessment applies from notice stage u/ss 148 and 148A as per notification u/s 151A. Assessment proceedings commence from issuance of show cause notice. Allowing JAO to issue notice would defeat faceless assessment objective. Departmental circulars cannot override statutory provisions; courts are not bound by them. Circulars supplement but cannot supplant statutory provisions. Notices issued by JAO u/s 148 quashed; liberty granted to proceed as per prescribed procedure.
Notices issued by Jurisdictional Assessing Officer (JAO) u/s 148 instead of Faceless Assessment Officer (FAO) are invalid after introduction of Finance Act 2021. Scheme of faceless assessment applies from notice stage u/ss 148 and 148A as per notification u/s 151A. Assessment proceedings commence from issuance of show cause notice. Allowing JAO to issue notice would defeat faceless assessment objective. Departmental circulars cannot override statutory provisions; courts are not bound by them. Circulars supplement but cannot supplant statutory provisions. Notices issued by JAO u/s 148 quashed; liberty granted to proceed as per prescribed procedure.
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