Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
The dominant issue was whether the mandatory prior approval under section 153D was valid, or was granted mechanically without independent application of mind. The forum held that while section 153D does not require detailed reasoning, the approving authority must record at least some indication of independent consideration; here, the approval contained no reasoning and reflected borrowed satisfaction from the AO, defeating the statutory safeguard. Consequently, assessments founded on such void approval were treated as non est in law, and the assessee's appeal was allowed. - ITAT
The dominant issue was whether the mandatory prior approval under section 153D was valid, or was granted mechanically without independent application of mind. The forum held that while section 153D does not require detailed reasoning, the approving authority must record at least some indication of independent consideration; here, the approval contained no reasoning and reflected borrowed satisfaction from the AO, defeating the statutory safeguard. Consequently, assessments founded on such void approval were treated as non est in law, and the assessee's appeal was allowed. - ITAT
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