Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
Alternative statutory remedy and delay bar GST writ challenges despite pending rectification, while distinct subject matter permits parallel proceedin...
Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Once the principal grounds on which reassessment was proposed are dropped, no further additions can be made even by taking recourse to Explanation 3. There is an indelible connection between Section 148A(b) and Section 148A(d) of the Act, which is not impacted by Explanation 3. The validity of initiation of reassessment must be independently evaluated and cannot be confused with the power ultimately available to the Assessing Officer once an assessment has been validly reopened. Explanation 3 comes into play only after it is found that the power to reassess has been validly invoked. It cannot be read as enabling the Assessing Officer to deviate from the original reasons for initiating action u/s 147/148, nor can it empower the officer to improve upon, supplement or supplant those reasons. Therefore, once the issue which formed the subject matter of the notice u/s 148 was dropped, no further additions could have been made thereafter.
Once the principal grounds on which reassessment was proposed are dropped, no further additions can be made even by taking recourse to Explanation 3. There is an indelible connection between Section 148A(b) and Section 148A(d) of the Act, which is not impacted by Explanation 3. The validity of initiation of reassessment must be independently evaluated and cannot be confused with the power ultimately available to the Assessing Officer once an assessment has been validly reopened. Explanation 3 comes into play only after it is found that the power to reassess has been validly invoked. It cannot be read as enabling the Assessing Officer to deviate from the original reasons for initiating action u/s 147/148, nor can it empower the officer to improve upon, supplement or supplant those reasons. Therefore, once the issue which formed the subject matter of the notice u/s 148 was dropped, no further additions could have been made thereafter.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
