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...
A high court upheld a single-judge interim order staying a state notification that appointed a commission of inquiry into whether a federal investigatory agency sought to implicate the state's chief executive in a gold-smuggling matter. The bench dismissed the state's appeal, affirmed the stay, and noted the single judge will decide later whether the state had legislative competence to appoint the commission. The stay was grounded on preventing parallel proceedings and interference with ongoing criminal prosecutions under the Prevention of Money Laundering Act, and on the principle that a commission is a fact-finding, not adjudicatory, body.
A high court upheld a single-judge interim order staying a state notification that appointed a commission of inquiry into whether a federal investigatory agency sought to implicate the state's chief executive in a gold-smuggling matter. The bench dismissed the state's appeal, affirmed the stay, and noted the single judge will decide later whether the state had legislative competence to appoint the commission. The stay was grounded on preventing parallel proceedings and interference with ongoing criminal prosecutions under the Prevention of Money Laundering Act, and on the principle that a commission is a fact-finding, not adjudicatory, body.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
