Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
A notice of demand under Section 156 requires an existing assessment or reassessment order fixing tax or arrears; absent such an antecedent order a demand notice is ultra vires and invalid. Where an original scrutiny assessment recorded nil liability, the revenue must invoke the reassessment/reopening procedure before creating fresh tax liability; issuing a demand years later on the same material without reopening under Section 147 amounts to an impermissible change of opinion. The impugned demand was therefore beyond jurisdiction and quashed.
A notice of demand under Section 156 requires an existing assessment or reassessment order fixing tax or arrears; absent such an antecedent order a demand notice is ultra vires and invalid. Where an original scrutiny assessment recorded nil liability, the revenue must invoke the reassessment/reopening procedure before creating fresh tax liability; issuing a demand years later on the same material without reopening under Section 147 amounts to an impermissible change of opinion. The impugned demand was therefore beyond jurisdiction and quashed.
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