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...
The HC, deciding anticipatory bail applications filed by the petitioners accused of cartel-based smuggling of foreign currency and gold between India and a foreign jurisdiction, held that mere absence of immediate need for custodial interrogation cannot justify grant of anticipatory bail. The HC found a strong prima facie case indicating the petitioners' involvement in a larger smuggling cartel, involving concealment of foreign currency in checked-in baggage, conversion into gold abroad, and re-import into India. Observing that the identities and roles of other cartel members must be unearthed and that custodial interrogation is necessary for effective investigation, the HC found no merit in the petitions and dismissed them.
The HC, deciding anticipatory bail applications filed by the petitioners accused of cartel-based smuggling of foreign currency and gold between India and a foreign jurisdiction, held that mere absence of immediate need for custodial interrogation cannot justify grant of anticipatory bail. The HC found a strong prima facie case indicating the petitioners' involvement in a larger smuggling cartel, involving concealment of foreign currency in checked-in baggage, conversion into gold abroad, and re-import into India. Observing that the identities and roles of other cartel members must be unearthed and that custodial interrogation is necessary for effective investigation, the HC found no merit in the petitions and dismissed them.
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