Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
HC ruling on tax reassessment for AY 2014-2015: The court held that the reassessment notice under Section 148 was invalid. The AO's reopening of assessment was deemed a mere change of opinion rather than discovery of new material, as the original assessment was based on search operation materials. The court found that the materials used for reopening were already part of the original assessment proceedings. Consequently, the court set aside the reassessment notice dated 31.03.2021 and the order rejecting objections dated 21.02.2022, effectively allowing the writ petition and invalidating the reassessment proceedings.
HC ruling on tax reassessment for AY 2014-2015: The court held that the reassessment notice under Section 148 was invalid. The AO's reopening of assessment was deemed a mere change of opinion rather than discovery of new material, as the original assessment was based on search operation materials. The court found that the materials used for reopening were already part of the original assessment proceedings. Consequently, the court set aside the reassessment notice dated 31.03.2021 and the order rejecting objections dated 21.02.2022, effectively allowing the writ petition and invalidating the reassessment proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
