Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Whether the Tribunal had jurisdiction to entertain an interim application filed by borrowers in pending SARFAESI proceedings challenging a Recovery Officer's order under the RDDBFI Act: the court held the RDDBFI Act and SARFAESI Act create separate, non-clubbable remedies; an appeal under s.30 RDDBFI would invoke s.30A deposit obligations, so borrowers impermissibly used SARFAESI proceedings to avoid statutory deposit. Because the Tribunal knowingly entertained the application despite the alternative remedy, its order was without jurisdiction and is set aside; the appeal is allowed. - AT
Whether the Tribunal had jurisdiction to entertain an interim application filed by borrowers in pending SARFAESI proceedings challenging a Recovery Officer's order under the RDDBFI Act: the court held the RDDBFI Act and SARFAESI Act create separate, non-clubbable remedies; an appeal under s.30 RDDBFI would invoke s.30A deposit obligations, so borrowers impermissibly used SARFAESI proceedings to avoid statutory deposit. Because the Tribunal knowingly entertained the application despite the alternative remedy, its order was without jurisdiction and is set aside; the appeal is allowed. - AT
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