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...
Rectification was allowed to permit set off of brought forward business losses and unabsorbed depreciation where a mistake apparent on the face of the record rendered the return inconsistent with an earlier rectified income figure. Tribunal held that although a claim for set off was not made in the original return and precedent bars allowing such a claim by letter during assessment, the revised returned income from the rectification order must govern when no fresh additions were made in the assessment conducted after seizure proceedings; consequently the returned income was to be treated like the earlier rectified return and the appeal was allowed.
Rectification was allowed to permit set off of brought forward business losses and unabsorbed depreciation where a mistake apparent on the face of the record rendered the return inconsistent with an earlier rectified income figure. Tribunal held that although a claim for set off was not made in the original return and precedent bars allowing such a claim by letter during assessment, the revised returned income from the rectification order must govern when no fresh additions were made in the assessment conducted after seizure proceedings; consequently the returned income was to be treated like the earlier rectified return and the appeal was allowed.
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