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...
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Section 263 revision - derivative transactions losses - inadequate inquiry by Assessing Officer (AO). Commissioner of Income Tax (CIT) set aside AO's order for re-examination instead of giving conclusive finding on sustainability under law. Distinction between lack of inquiry and inadequate inquiry - if any inquiry conducted, even inadequate, CIT cannot revise merely due to different opinion. Only lack of inquiry permits revision u/s 263. AO conducted inquiry, was satisfied with evidence provided, not required to give elaborate finding. CIT cannot remand for fresh adjudication merely due to uncertainty about assessee's claim correctness. When AO's order not erroneous for want of inquiry, CIT must give conclusive finding on order's sustainability under law. Assessee's appeal allowed.
Section 263 revision - derivative transactions losses - inadequate inquiry by Assessing Officer (AO). Commissioner of Income Tax (CIT) set aside AO's order for re-examination instead of giving conclusive finding on sustainability under law. Distinction between lack of inquiry and inadequate inquiry - if any inquiry conducted, even inadequate, CIT cannot revise merely due to different opinion. Only lack of inquiry permits revision u/s 263. AO conducted inquiry, was satisfied with evidence provided, not required to give elaborate finding. CIT cannot remand for fresh adjudication merely due to uncertainty about assessee's claim correctness. When AO's order not erroneous for want of inquiry, CIT must give conclusive finding on order's sustainability under law. Assessee's appeal allowed.
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