NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Validity of an ICDS adjustment was challenged on the basis that the intimation under the income tax intimation procedure was issued without giving the assessee prior written or electronic notice and without considering the assessees response. The court found that the first and second provisos require notice of a proposed adjustment and consideration of any reply before making adjustments; absence of such notice and opportunity to be heard violated the principles of natural justice. Consequently the ICDS adjustment in the intimation was quashed.
Validity of an ICDS adjustment was challenged on the basis that the intimation under the income tax intimation procedure was issued without giving the assessee prior written or electronic notice and without considering the assessees response. The court found that the first and second provisos require notice of a proposed adjustment and consideration of any reply before making adjustments; absence of such notice and opportunity to be heard violated the principles of natural justice. Consequently the ICDS adjustment in the intimation was quashed.
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