Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
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...
Territorial jurisdiction for Article 226 writs was held to arise where the competent Regional Authority sits, since the Customs officer performed only a ministerial forwarding function; consequence: the High Court entertained writ petitions challenging denial of Merchandise Exports from India Scheme benefits caused by a clerical/electronic EDI error. The Regional Authority at Jaipur was identified as the competent adjudicatory authority and directed to accept resubmitted online applications converting the option from N to Y and to process claims on merits, reflecting the principle that entitlement should not be defeated by ministerial or technical default.
Territorial jurisdiction for Article 226 writs was held to arise where the competent Regional Authority sits, since the Customs officer performed only a ministerial forwarding function; consequence: the High Court entertained writ petitions challenging denial of Merchandise Exports from India Scheme benefits caused by a clerical/electronic EDI error. The Regional Authority at Jaipur was identified as the competent adjudicatory authority and directed to accept resubmitted online applications converting the option from N to Y and to process claims on merits, reflecting the principle that entitlement should not be defeated by ministerial or technical default.
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