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 the appeal, upholding NCLT's rejection of CA No. 121/2022. It held that the NCLT order dated 18.07.2019, by which the appellant was impleaded in proceedings under ss. 241-242 based on an SFIO report, had merged into the appellate order passed by NCLAT in Company Appeal No. 215/2019, which was decided on merits. Consequently, the original NCLT order could not be invoked to seek review or recall before NCLT. The subsequent filing and withdrawal of an appeal before SC did not disturb the doctrine of merger or revive any right to challenge the NCLT order. Reliance on prior SC remand orders in similar impleadment matters was rejected, as those contentions had already been raised before SC when the appellant withdrew its appeal.
NCLAT dismissed the appeal, upholding NCLT's rejection of CA No. 121/2022. It held that the NCLT order dated 18.07.2019, by which the appellant was impleaded in proceedings under ss. 241-242 based on an SFIO report, had merged into the appellate order passed by NCLAT in Company Appeal No. 215/2019, which was decided on merits. Consequently, the original NCLT order could not be invoked to seek review or recall before NCLT. The subsequent filing and withdrawal of an appeal before SC did not disturb the doctrine of merger or revive any right to challenge the NCLT order. Reliance on prior SC remand orders in similar impleadment matters was rejected, as those contentions had already been raised before SC when the appellant withdrew its appeal.
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