Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
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CBDT Instruction No. 01/2011 placed jurisdiction over a corporate assessee in Kolkata with income above the prescribed limit in the AC/DC, so a reassessment notice issued by the Income Tax Officer lacked authority and the reopening was void ab initio. Separately, the Tribunal held that the NFAC had no jurisdiction to pass the reassessment order before the section 151A notification bringing the scheme into force, making that order equally void ab initio. The reassessment proceedings were therefore unsustainable on jurisdictional grounds and the assessee's appeal was allowed.
CBDT Instruction No. 01/2011 placed jurisdiction over a corporate assessee in Kolkata with income above the prescribed limit in the AC/DC, so a reassessment notice issued by the Income Tax Officer lacked authority and the reopening was void ab initio. Separately, the Tribunal held that the NFAC had no jurisdiction to pass the reassessment order before the section 151A notification bringing the scheme into force, making that order equally void ab initio. The reassessment proceedings were therefore unsustainable on jurisdictional grounds and the assessee's appeal was allowed.
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