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...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Abatement of proceedings on initiation of search is limited to assessments or reassessments that are pending at the time of search; completed and subsisting assessment orders do not abate. However, where a fresh assessment is made under the block-assessment scheme for a year within the block period, the prior completed assessment for that year is rendered infructuous and is treated as re-opened and merged into the subsequent block assessment, so the latter determination governs. The appellate challenge succeeded and the tribunal order was set aside, leaving the Section 153A assessment operative in relation to the disputed loss treatment.
Abatement of proceedings on initiation of search is limited to assessments or reassessments that are pending at the time of search; completed and subsisting assessment orders do not abate. However, where a fresh assessment is made under the block-assessment scheme for a year within the block period, the prior completed assessment for that year is rendered infructuous and is treated as re-opened and merged into the subsequent block assessment, so the latter determination governs. The appellate challenge succeeded and the tribunal order was set aside, leaving the Section 153A assessment operative in relation to the disputed loss treatment.
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