Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Addition for alleged non genuine accommodation entries was treated as unexplained money and deleted on appeal after the appellate forum found the assessing officer's reliance on statements and investigative inputs unsustainable; the deletion was accepted by NFAC. Reopening of assessment was held invalid because the reasons relied solely on the Investigation Wing report without independent application of mind by the AO (borrowed satisfaction), so reassessment proceedings were quashed. Reopening beyond the four year period also failed because the assessee had fully and truly disclosed material facts at original assessment, negating the proviso trigger for reassessment.
Addition for alleged non genuine accommodation entries was treated as unexplained money and deleted on appeal after the appellate forum found the assessing officer's reliance on statements and investigative inputs unsustainable; the deletion was accepted by NFAC. Reopening of assessment was held invalid because the reasons relied solely on the Investigation Wing report without independent application of mind by the AO (borrowed satisfaction), so reassessment proceedings were quashed. Reopening beyond the four year period also failed because the assessee had fully and truly disclosed material facts at original assessment, negating the proviso trigger for reassessment.
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