Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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SC dismissed the appeal, affirming the High Court's dismissal of Revenue's challenge to the reopening of assessment. The SC held that directions to place on record the reasons to believe and the original order under s.143(3) were intended to test correctness of the CIT and Tribunal findings; Revenue's inability to produce the records precluded any demonstration that those findings were perverse in relation to the objections. In consequence, absent the relevant material, the CIT's conclusions, as affirmed by the Tribunal, were not amenable to interference. Although the High Court could have refrained from observing that Revenue was uninterested in pursuing the appeal, that remark did not vitiate dismissal.
SC dismissed the appeal, affirming the High Court's dismissal of Revenue's challenge to the reopening of assessment. The SC held that directions to place on record the reasons to believe and the original order under s.143(3) were intended to test correctness of the CIT and Tribunal findings; Revenue's inability to produce the records precluded any demonstration that those findings were perverse in relation to the objections. In consequence, absent the relevant material, the CIT's conclusions, as affirmed by the Tribunal, were not amenable to interference. Although the High Court could have refrained from observing that Revenue was uninterested in pursuing the appeal, that remark did not vitiate dismissal.
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