Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Reopening of assessment was challenged on the ground that the assessing officer recorded the taxpayer's reply verbatim but furnished no reasons or consideration linking the proposition to the conclusion; the absence of any explanation that the assessee remained a "Non Filer" despite evidence of filing amounted to non application of mind. The legal principle emphasised is that reasons are live links between proposition and conclusion and their absence vitiates the reassessment process. Consequentially, the impugned order and the reassessment notice issued under the relevant provision were set aside as unsustainable under Article 226 and the assessee's appeal allowed.
Reopening of assessment was challenged on the ground that the assessing officer recorded the taxpayer's reply verbatim but furnished no reasons or consideration linking the proposition to the conclusion; the absence of any explanation that the assessee remained a "Non Filer" despite evidence of filing amounted to non application of mind. The legal principle emphasised is that reasons are live links between proposition and conclusion and their absence vitiates the reassessment process. Consequentially, the impugned order and the reassessment notice issued under the relevant provision were set aside as unsustainable under Article 226 and the assessee's appeal allowed.
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