Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
Proceedings initiated by issuance of notice under s.153C were held not maintainable because the assessee's own premises had been searched, making him a "searched person" and not an "other person" within the scope of s.153C; consequently, the notice and consequential proceedings were quashed. Independently, the assessment order was held time-barred since, despite bearing the last permissible date and reflecting DIN generation on that date, the order did not leave the department's control and was actually booked/dispatched after the limitation date, so it could not be treated as passed within time; accordingly, the assessment order was set aside and the writ was allowed. - HC
Proceedings initiated by issuance of notice under s.153C were held not maintainable because the assessee's own premises had been searched, making him a "searched person" and not an "other person" within the scope of s.153C; consequently, the notice and consequential proceedings were quashed. Independently, the assessment order was held time-barred since, despite bearing the last permissible date and reflecting DIN generation on that date, the order did not leave the department's control and was actually booked/dispatched after the limitation date, so it could not be treated as passed within time; accordingly, the assessment order was set aside and the writ was allowed. - HC
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