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 allowed the petition challenging license denial, distinguishing between "contravention" and "offence" under indirect tax laws. The court found pending litigation does not automatically constitute an offence under para 3(2)(c) of the Regulation. No actual penalties were imposed against the petitioner's company or its officers. The impugned orders were quashed, directing respondents to issue the license within two weeks upon fulfilling other regulatory conditions, effectively rejecting the administrative denial based on pending legal proceedings.
HC allowed the petition challenging license denial, distinguishing between "contravention" and "offence" under indirect tax laws. The court found pending litigation does not automatically constitute an offence under para 3(2)(c) of the Regulation. No actual penalties were imposed against the petitioner's company or its officers. The impugned orders were quashed, directing respondents to issue the license within two weeks upon fulfilling other regulatory conditions, effectively rejecting the administrative denial based on pending legal proceedings.
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TaxTMI 
TaxTMI 
of 4918 
