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 quashed the impugned order accepting the 'C' Summary Report without judicial application of mind. The court held that the Magistrate was duty-bound to critically examine the report, either accept/reject it, take cognizance of the offence, issue process, or direct further investigation under Section 156. The matter was remanded to the Additional Chief Metropolitan Magistrate for fresh consideration, mandating proper judicial scrutiny and adherence to procedural safeguards in evaluating the money laundering case documentation.
HC quashed the impugned order accepting the 'C' Summary Report without judicial application of mind. The court held that the Magistrate was duty-bound to critically examine the report, either accept/reject it, take cognizance of the offence, issue process, or direct further investigation under Section 156. The matter was remanded to the Additional Chief Metropolitan Magistrate for fresh consideration, mandating proper judicial scrutiny and adherence to procedural safeguards in evaluating the money laundering case documentation.
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TaxTMI 
TaxTMI 
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