Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
Reassessment proceedings initiated against a deceased person are void, as issuing notice in the name of a deceased individual is a fundamental jurisdictional error, not merely a procedural lapse. Even if the initial notice u/s 148 was issued during the assessee's lifetime, subsequent notices u/s 148A(b) and 148 were issued after the assessee's demise. The assessee's participation cannot be construed as waiver, as the department was informed of the death. Failure to bring legal heirs on record renders the reassessment proceedings invalid. The High Court set aside the reassessment proceedings, deciding in favor of the assessee.
Reassessment proceedings initiated against a deceased person are void, as issuing notice in the name of a deceased individual is a fundamental jurisdictional error, not merely a procedural lapse. Even if the initial notice u/s 148 was issued during the assessee's lifetime, subsequent notices u/s 148A(b) and 148 were issued after the assessee's demise. The assessee's participation cannot be construed as waiver, as the department was informed of the death. Failure to bring legal heirs on record renders the reassessment proceedings invalid. The High Court set aside the reassessment proceedings, deciding in favor of the assessee.
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