Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Applying precedent distinguishing clerical errors from jurisdictional defects, the court held that an assessment framed in the name and PAN of an amalgamating non existent entity constitutes a substantive illegality and is void ab initio. Because the assessing officer had been informed of the amalgamation before the final order, the defect was held to be jurisdictional and not a curable procedural mistake; statutory remedial provision Section 292B and alleged ITBA/system glitches cannot validate such an assessment. The tribunal's quashing of the final assessment was therefore sustained and the appeal dismissed.
Applying precedent distinguishing clerical errors from jurisdictional defects, the court held that an assessment framed in the name and PAN of an amalgamating non existent entity constitutes a substantive illegality and is void ab initio. Because the assessing officer had been informed of the amalgamation before the final order, the defect was held to be jurisdictional and not a curable procedural mistake; statutory remedial provision Section 292B and alleged ITBA/system glitches cannot validate such an assessment. The tribunal's quashing of the final assessment was therefore sustained and the appeal dismissed.
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