Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
Issue: denial of startup tax exemption due to delayed uploading of Form 10CCB and discrepancies in tax audit. Principle applied: where substantial justice and technical compliance conflict, substantial justice prevails; non deliberate, accidental delay in filing procedural form that caused no loss to Revenue cannot defeat an otherwise available statutory benefit. Operative effect: the technical refusal of exemption was set aside and the CIT(A)'s confirmation of disallowance was overturned, restoring the start up's entitlement to the tax exemption despite procedural lapse.
Issue: denial of startup tax exemption due to delayed uploading of Form 10CCB and discrepancies in tax audit. Principle applied: where substantial justice and technical compliance conflict, substantial justice prevails; non deliberate, accidental delay in filing procedural form that caused no loss to Revenue cannot defeat an otherwise available statutory benefit. Operative effect: the technical refusal of exemption was set aside and the CIT(A)'s confirmation of disallowance was overturned, restoring the start up's entitlement to the tax exemption despite procedural lapse.
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