Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
Issuance of a notice under section 143(2) is a jurisdictional requirement where a return is filed belatedly in response to an inquiry; absence of that notice renders any assessment completed under section 144 void. The tribunal found no material proving service of the mandatory notice and, following existing precedent, held the assessment without such notice invalid and quashed the assessment order, allowing the taxpayer's appeal.
Issuance of a notice under section 143(2) is a jurisdictional requirement where a return is filed belatedly in response to an inquiry; absence of that notice renders any assessment completed under section 144 void. The tribunal found no material proving service of the mandatory notice and, following existing precedent, held the assessment without such notice invalid and quashed the assessment order, allowing the taxpayer's appeal.
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