Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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Reassessment notice law distinguishes issuance from service: limitation under Section 149 was satisfied because the notice under Section 148 was issued within time, so the reopening was not void for want of jurisdiction. However, the Department failed to prove actual service of the statutory notice before reassessment was completed. The Court treated this as an irregular assumption of jurisdiction amounting to breach of natural justice, set aside the reassessment order and consequential demand, and remitted the matter for fresh assessment after service of notice and opportunity of hearing. It also held that writ jurisdiction was available despite an alternate remedy because the challenge involved violation of natural justice.
Reassessment notice law distinguishes issuance from service: limitation under Section 149 was satisfied because the notice under Section 148 was issued within time, so the reopening was not void for want of jurisdiction. However, the Department failed to prove actual service of the statutory notice before reassessment was completed. The Court treated this as an irregular assumption of jurisdiction amounting to breach of natural justice, set aside the reassessment order and consequential demand, and remitted the matter for fresh assessment after service of notice and opportunity of hearing. It also held that writ jurisdiction was available despite an alternate remedy because the challenge involved violation of natural justice.
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