Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
HC upheld validity of assessment order under s.147 read with s.144B, finding proper approval under s.151. Court confirmed Range Head and CIT/PCIT had appropriately endorsed AO's recorded reasons for scrutiny notice under s.148. Review of computerized order details demonstrated requisite approvals obtained at each stage of faceless assessment. Finding no jurisdictional error, HC declined to exercise writ jurisdiction. Petitioner directed to pursue statutory appeal remedy for AY 2013-14, with time spent in writ proceedings eligible for consideration in any delay condonation application.
HC upheld validity of assessment order under s.147 read with s.144B, finding proper approval under s.151. Court confirmed Range Head and CIT/PCIT had appropriately endorsed AO's recorded reasons for scrutiny notice under s.148. Review of computerized order details demonstrated requisite approvals obtained at each stage of faceless assessment. Finding no jurisdictional error, HC declined to exercise writ jurisdiction. Petitioner directed to pursue statutory appeal remedy for AY 2013-14, with time spent in writ proceedings eligible for consideration in any delay condonation application.
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