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...
NCLAT adjudicated an appeal challenging the modification of the 'Appointed Date' in an amalgamation scheme. The tribunal found that the lower NCLT improperly altered the appointed date without providing reasons or opportunity for the appellant to respond, thereby violating principles of natural justice. The NCLAT held that the appointed date shall remain as originally specified in the scheme's clauses, rejecting the NCLT's unilateral modification. The tribunal emphasized that changing the appointed date arbitrarily could significantly impact financial calculations and legal implications. Consequently, the appeal was allowed, and the impugned order was modified to reinstate the original appointed date as per the scheme's provisions.
NCLAT adjudicated an appeal challenging the modification of the 'Appointed Date' in an amalgamation scheme. The tribunal found that the lower NCLT improperly altered the appointed date without providing reasons or opportunity for the appellant to respond, thereby violating principles of natural justice. The NCLAT held that the appointed date shall remain as originally specified in the scheme's clauses, rejecting the NCLT's unilateral modification. The tribunal emphasized that changing the appointed date arbitrarily could significantly impact financial calculations and legal implications. Consequently, the appeal was allowed, and the impugned order was modified to reinstate the original appointed date as per the scheme's provisions.
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TaxTMI 
TaxTMI 
of 4918 
