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...
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Abeyance of limitation applies where a rectification application under the GST statute was pending; the time spent pursuing rectification is excluded and the appeal is maintainable despite delay, the Court applying the principle of bona fide pursuit before a wrong forum and directing the appellate authority to decide on merits. Because the petitioner deposited 10% in the leading matter and 25% in the connected matter, the appeals are to be treated as not barred by delay, and the appellate authority must decide them on merits within two months. Writ petitions disposed accordingly.
Abeyance of limitation applies where a rectification application under the GST statute was pending; the time spent pursuing rectification is excluded and the appeal is maintainable despite delay, the Court applying the principle of bona fide pursuit before a wrong forum and directing the appellate authority to decide on merits. Because the petitioner deposited 10% in the leading matter and 25% in the connected matter, the appeals are to be treated as not barred by delay, and the appellate authority must decide them on merits within two months. Writ petitions disposed accordingly.
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