Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Validity of reassessment proceedings against non-existent entities or amalgamating companies. The key points are: 1) Initiating or continuing proceedings against a dissolved company or one that no longer exists in law would invalidate the proceedings. 2) Once a Scheme of Arrangement is approved, the transferor companies are dissolved by operation of law, and proceedings drawn in their name would be a nullity. 3) Sections 159 and 170 of the Act are not applicable in such cases. 4) Invoking Section 154 for rectification to overcome a jurisdictional error is not permissible. 5) Issuing notices u/s 142(1) bearing the PAN of the erstwhile entity, though a mistake, is not a fundamental flaw or incurable illegality. 6) Failure to apprise the authorities about the approved Scheme of Arrangement renders the proceedings valid. 7) The High Court dismissed petitions where disclosures about the Scheme were not made during assessment proceedings.
Validity of reassessment proceedings against non-existent entities or amalgamating companies. The key points are: 1) Initiating or continuing proceedings against a dissolved company or one that no longer exists in law would invalidate the proceedings. 2) Once a Scheme of Arrangement is approved, the transferor companies are dissolved by operation of law, and proceedings drawn in their name would be a nullity. 3) Sections 159 and 170 of the Act are not applicable in such cases. 4) Invoking Section 154 for rectification to overcome a jurisdictional error is not permissible. 5) Issuing notices u/s 142(1) bearing the PAN of the erstwhile entity, though a mistake, is not a fundamental flaw or incurable illegality. 6) Failure to apprise the authorities about the approved Scheme of Arrangement renders the proceedings valid. 7) The High Court dismissed petitions where disclosures about the Scheme were not made during assessment proceedings.
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