Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
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Validity of a notice issued under section 148 was contested where the partnership had been dissolved and its business taken over by a private limited company, and the dissolution had been formally intimated to the income-tax authorities. The Tribunal held that jurisdiction cannot be exercised by issuing a reassessment notice in the name of a non-existent entity; the defect persisted despite being pointed out during 148A proceedings and before the appellate authority. Applying that principle, the ITAT quashed the notice and the reassessment proceedings as bad in law.
Validity of a notice issued under section 148 was contested where the partnership had been dissolved and its business taken over by a private limited company, and the dissolution had been formally intimated to the income-tax authorities. The Tribunal held that jurisdiction cannot be exercised by issuing a reassessment notice in the name of a non-existent entity; the defect persisted despite being pointed out during 148A proceedings and before the appellate authority. Applying that principle, the ITAT quashed the notice and the reassessment proceedings as bad in law.
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