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...
Remand by a tribunal to the Transfer Pricing Officer is legally distinct from a reference initiated by the Assessing Officer; therefore the time-limit for giving effect to a tribunal remand is governed by the statutory provision applicable to fresh orders on appellate remand (the provision corresponding to Section 153(3) and the related giving-effect provision) and not by the extension mechanism that applies only to AO references. Applying the jurisdictional nature of limitation, the court found the period to give effect had expired on 31-03-2024, quashed the communication rejecting refund and directed payment of the excess tax with interest and timelines for compliance.
Remand by a tribunal to the Transfer Pricing Officer is legally distinct from a reference initiated by the Assessing Officer; therefore the time-limit for giving effect to a tribunal remand is governed by the statutory provision applicable to fresh orders on appellate remand (the provision corresponding to Section 153(3) and the related giving-effect provision) and not by the extension mechanism that applies only to AO references. Applying the jurisdictional nature of limitation, the court found the period to give effect had expired on 31-03-2024, quashed the communication rejecting refund and directed payment of the excess tax with interest and timelines for compliance.
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