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...
HC dismissed the writ petition challenging search proceedings under PMLA, affirming the Directorate of Enforcement's investigative authority. The court held that judicial review is strictly limited to verifying whether "reasons to believe" were recorded in writing prior to search, without examining the investigating officer's subjective satisfaction. The court emphasized that search procedures aimed at uncovering potential economic offenses serve national interest and constitutional mandates of economic justice. The petition challenging the search was deemed an abuse of legal process, with the court noting the serious allegations of malpractice against the state corporation. The Directorate of Enforcement was granted liberty to continue its investigation under the Prevention of Money Laundering Act.
HC dismissed the writ petition challenging search proceedings under PMLA, affirming the Directorate of Enforcement's investigative authority. The court held that judicial review is strictly limited to verifying whether "reasons to believe" were recorded in writing prior to search, without examining the investigating officer's subjective satisfaction. The court emphasized that search procedures aimed at uncovering potential economic offenses serve national interest and constitutional mandates of economic justice. The petition challenging the search was deemed an abuse of legal process, with the court noting the serious allegations of malpractice against the state corporation. The Directorate of Enforcement was granted liberty to continue its investigation under the Prevention of Money Laundering Act.
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