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 suspended the operation of the impugned Look-Out Circular against the anonymous petitioner (a U.S. national and Swiss resident) for the duration of the writ petition, subject to stringent conditional safeguards to protect the integrity of the ongoing investigation into alleged public fund diversion. The court emphasized that investigative processes shall continue unhindered while the petitioner's liberty and professional obligations are not to be indefinitely restrained absent determination of accused status. The respondents were directed to rely on less restrictive measures to secure attendance and cooperation; the petition was disposed of on the basis of the conditional suspension of the LOC.
HC suspended the operation of the impugned Look-Out Circular against the anonymous petitioner (a U.S. national and Swiss resident) for the duration of the writ petition, subject to stringent conditional safeguards to protect the integrity of the ongoing investigation into alleged public fund diversion. The court emphasized that investigative processes shall continue unhindered while the petitioner's liberty and professional obligations are not to be indefinitely restrained absent determination of accused status. The respondents were directed to rely on less restrictive measures to secure attendance and cooperation; the petition was disposed of on the basis of the conditional suspension of the LOC.
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TaxTMI 
TaxTMI 
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