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...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Registration under section 12A was originally granted and renewed by the prescribed authority empowered to grant or withdraw such registration. The tribunal held that section 127 permits transfer of cases among assessing officers but does not permit transfer of power to Commissioners who are not assessing officers; therefore a different PCIT lacked jurisdiction to cancel the registration granted by the empowered authority. Consequence: the cancellation order issued without jurisdiction was quashed and the assessee's registration restored, and the appeal was allowed.
Registration under section 12A was originally granted and renewed by the prescribed authority empowered to grant or withdraw such registration. The tribunal held that section 127 permits transfer of cases among assessing officers but does not permit transfer of power to Commissioners who are not assessing officers; therefore a different PCIT lacked jurisdiction to cancel the registration granted by the empowered authority. Consequence: the cancellation order issued without jurisdiction was quashed and the assessee's registration restored, and the appeal was allowed.
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