Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
HC held gratuity dues do not form part of liquidation estate under IBC and remain protected for workers' benefit. The controlling authority maintained jurisdiction as company continued operations under new management post-CIRP without entering liquidation. While respondent was a managerial employee rather than worker, Payment of Gratuity Act applies universally to all employees as labor legislation. With no specific gratuity fund maintained, entire dues were payable from company assets with priority over creditor claims. Court distinguished CIRP as creditor recovery mechanism from liquidation which terminates company existence. Controlling authority's jurisdiction to determine gratuity remained intact since company remained active. Petition challenging authority's jurisdiction dismissed.
HC held gratuity dues do not form part of liquidation estate under IBC and remain protected for workers' benefit. The controlling authority maintained jurisdiction as company continued operations under new management post-CIRP without entering liquidation. While respondent was a managerial employee rather than worker, Payment of Gratuity Act applies universally to all employees as labor legislation. With no specific gratuity fund maintained, entire dues were payable from company assets with priority over creditor claims. Court distinguished CIRP as creditor recovery mechanism from liquidation which terminates company existence. Controlling authority's jurisdiction to determine gratuity remained intact since company remained active. Petition challenging authority's jurisdiction dismissed.
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TaxTMI 
TaxTMI 
of 4918 
