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...
NCLAT dismissed appellant's challenge to Section 95 application initiating Personal Insolvency Resolution Process. Appellant contended notice invoking bank guarantee dated 10.10.2017 was never served, constituting violation of natural justice principles. NCLAT found materials on record from SBI and Resolution Professional established proper service of guarantee invocation notice and legal demand notice via speed post. Court noted appellant failed to file replies despite repeated opportunities before Adjudicating Authority and never raised non-service argument during oral submissions. NCLAT concluded notice invoking bank guarantee was duly served, rejecting appellant's contentions as meritless and dismissing the appeal entirely.
NCLAT dismissed appellant's challenge to Section 95 application initiating Personal Insolvency Resolution Process. Appellant contended notice invoking bank guarantee dated 10.10.2017 was never served, constituting violation of natural justice principles. NCLAT found materials on record from SBI and Resolution Professional established proper service of guarantee invocation notice and legal demand notice via speed post. Court noted appellant failed to file replies despite repeated opportunities before Adjudicating Authority and never raised non-service argument during oral submissions. NCLAT concluded notice invoking bank guarantee was duly served, rejecting appellant's contentions as meritless and dismissing the appeal entirely.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
