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...
Challenge to admission of an insolvency petition founded on a settlement following payment of the entire claimed debt is addressed, with the tribunal applying precedent to hold that where due publication of claims occurred and no creditors other than the applicant filed claims, the appellate forum may exercise jurisdiction to adjudicate and settle the dispute notwithstanding the expectation that the financial creditor seek formal withdrawal procedures; consequence: the appeal is disposed of and the impugned admission order is set aside.
Challenge to admission of an insolvency petition founded on a settlement following payment of the entire claimed debt is addressed, with the tribunal applying precedent to hold that where due publication of claims occurred and no creditors other than the applicant filed claims, the appellate forum may exercise jurisdiction to adjudicate and settle the dispute notwithstanding the expectation that the financial creditor seek formal withdrawal procedures; consequence: the appeal is disposed of and the impugned admission order is set aside.
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