Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
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Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
HC held that the specified authority for approval under Section 151 depends on whether the reassessment notice under Section 148 was issued within three years from the end of the relevant assessment year. The court consistently interpreted that the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act (TOLA) extension does not impact the determination of the mandatory approval authority. Based on this legal principle, the court set aside the impugned notice, thereby allowing the assessee's appeal and invalidating the reassessment proceedings due to procedural non-compliance with Section 151 approval requirements.
HC held that the specified authority for approval under Section 151 depends on whether the reassessment notice under Section 148 was issued within three years from the end of the relevant assessment year. The court consistently interpreted that the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act (TOLA) extension does not impact the determination of the mandatory approval authority. Based on this legal principle, the court set aside the impugned notice, thereby allowing the assessee's appeal and invalidating the reassessment proceedings due to procedural non-compliance with Section 151 approval requirements.
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