Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The High Court quashed the show cause notices and orders issued by the revenue authorities due to inordinate delay ranging from 9 to 20 years in adjudicating the notices, without any justifiable reason. The Court relied on its previous decisions and the Bombay High Court's judgment in Coventry Estates Pvt. Ltd. case, holding that such substantial delay nullifies the noticee's rights and causes irreparable prejudice. Consequently, the show cause notices and orders were quashed and set aside on the ground of non-justification for the delay in adjudication.
The High Court quashed the show cause notices and orders issued by the revenue authorities due to inordinate delay ranging from 9 to 20 years in adjudicating the notices, without any justifiable reason. The Court relied on its previous decisions and the Bombay High Court's judgment in Coventry Estates Pvt. Ltd. case, holding that such substantial delay nullifies the noticee's rights and causes irreparable prejudice. Consequently, the show cause notices and orders were quashed and set aside on the ground of non-justification for the delay in adjudication.
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TaxTMI 
TaxTMI 
of 4881 
