Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Reopening assessments by issuing a notice for reassessment beyond three years is invalid where the statutory conditions for extended reassessment and required sanction/approval were not satisfied; such notices are void ab initio and the consequent assessment orders are liable to be quashed. Where initial reassessment proceedings were dropped, issuing a fresh reassessment notice without first following the mandated pre-reopening consultation and disposal procedure is contrary to the reassessment scheme and therefore invalid; a second notice issued on the same recorded reasons without complying with that procedure is quashed along with resulting assessment orders.
Reopening assessments by issuing a notice for reassessment beyond three years is invalid where the statutory conditions for extended reassessment and required sanction/approval were not satisfied; such notices are void ab initio and the consequent assessment orders are liable to be quashed. Where initial reassessment proceedings were dropped, issuing a fresh reassessment notice without first following the mandated pre-reopening consultation and disposal procedure is contrary to the reassessment scheme and therefore invalid; a second notice issued on the same recorded reasons without complying with that procedure is quashed along with resulting assessment orders.
Note: It is a system-generated summary and is for quick reference only.
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