Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
A challenge to statutory summons under Section 131(1A) failed because mala fides were not proved by clear evidence, and the petitioner's reliance on later-produced material did not displace the prior TEP basis or the respondents' denial. The High Court also held that an Income Tax Officer authorised under the statutory scheme was competent to issue the summons, so no jurisdictional infirmity or colourable exercise of power was shown. It further accepted that, at the summons stage, the investigating authority was not required to disclose the detailed reasons, source of information, or scope of the ongoing inquiry, since confidentiality of an active tax investigation could be maintained without invalidating the summons.
A challenge to statutory summons under Section 131(1A) failed because mala fides were not proved by clear evidence, and the petitioner's reliance on later-produced material did not displace the prior TEP basis or the respondents' denial. The High Court also held that an Income Tax Officer authorised under the statutory scheme was competent to issue the summons, so no jurisdictional infirmity or colourable exercise of power was shown. It further accepted that, at the summons stage, the investigating authority was not required to disclose the detailed reasons, source of information, or scope of the ongoing inquiry, since confidentiality of an active tax investigation could be maintained without invalidating the summons.
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