Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
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