Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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Where reassessment was initiated on the taxability of notional annual letting value of unsold flats, the Assessing Officer was required to make a focused enquiry and record a finding on that very issue. The reassessment order contained only a mechanical recital of notices and replies, with no verification, analysis or adjudication of the escapement question. Mere issue of notice did not show application of mind, and the defect was treated as a complete lack of enquiry rather than a mere inadequate enquiry. The section 263 revision was therefore upheld as the order was erroneous and prejudicial to the interests of the revenue, while the merits of the proposed addition were left open for fresh examination.
Where reassessment was initiated on the taxability of notional annual letting value of unsold flats, the Assessing Officer was required to make a focused enquiry and record a finding on that very issue. The reassessment order contained only a mechanical recital of notices and replies, with no verification, analysis or adjudication of the escapement question. Mere issue of notice did not show application of mind, and the defect was treated as a complete lack of enquiry rather than a mere inadequate enquiry. The section 263 revision was therefore upheld as the order was erroneous and prejudicial to the interests of the revenue, while the merits of the proposed addition were left open for fresh examination.
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