Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
HC allowed the petition challenging CBDT's rejection of delay condonation for income tax return filing. The court found no lapse by the petitioner and determined that non-condonation would cause genuine hardship, potentially frustrating the resolution plan approved by NCLT. The impugned order dated 3.11.2023 rejecting the application under section 119(2)(b) for Assessment Years 2018-19 and 2019-2020 was quashed and set aside, effectively permitting the corporate debtor to carry forward previous year's losses as per the resolution plan.
HC allowed the petition challenging CBDT's rejection of delay condonation for income tax return filing. The court found no lapse by the petitioner and determined that non-condonation would cause genuine hardship, potentially frustrating the resolution plan approved by NCLT. The impugned order dated 3.11.2023 rejecting the application under section 119(2)(b) for Assessment Years 2018-19 and 2019-2020 was quashed and set aside, effectively permitting the corporate debtor to carry forward previous year's losses as per the resolution plan.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
