Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
The dispute concerns validity of an assessment order issued by an Assessing Officer who lacked jurisdiction due to multiple transfers of PAN jurisdiction; absence of any transfer order under the relevant statutory power prior to assessment meant jurisdiction remained with the original ITO. The tribunal applied the principle that an order by a non jurisdictional Assessing Officer is void ab initio and that jurisdiction cannot be conferred by the assessee's participation; accordingly the assessment was held void and the appellate order upholding it could not stand, appeal allowed.
The dispute concerns validity of an assessment order issued by an Assessing Officer who lacked jurisdiction due to multiple transfers of PAN jurisdiction; absence of any transfer order under the relevant statutory power prior to assessment meant jurisdiction remained with the original ITO. The tribunal applied the principle that an order by a non jurisdictional Assessing Officer is void ab initio and that jurisdiction cannot be conferred by the assessee's participation; accordingly the assessment was held void and the appellate order upholding it could not stand, appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
