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...
Validity of reopening of assessment questioned due to errors in original notice. Notice alleged non-filing of return, later contradicted. AO failed to evaluate return before alleging income escape. AO's opinion on income taxation not based on due process. DTAA benefits not part of original notice. Final order relied on assessment from prior year. Allotment of shares under scheme not considered. Reassessment reasons must be consistent. Petitioner refuted remittances, claimed DTAA exemption. AO's denial of treaty benefits without original basis not valid. Court ruled in favor of assessee, criticizing AO's inconsistent approach.
Validity of reopening of assessment questioned due to errors in original notice. Notice alleged non-filing of return, later contradicted. AO failed to evaluate return before alleging income escape. AO's opinion on income taxation not based on due process. DTAA benefits not part of original notice. Final order relied on assessment from prior year. Allotment of shares under scheme not considered. Reassessment reasons must be consistent. Petitioner refuted remittances, claimed DTAA exemption. AO's denial of treaty benefits without original basis not valid. Court ruled in favor of assessee, criticizing AO's inconsistent approach.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4789
Join Channel
TaxTMI 
