Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
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HC held that reassessment based on an undated third-party complaint and other unverified material could not be sustained where there was no direct nexus with the assessee. The complaint was not authenticated, its author was not examined, and no further investigation linked the petitioner to any alleged cash transaction. The statements later recorded and the image of the cash receipt also failed to show any transaction by or with the petitioner. Reopening founded on conjectures and surmises was therefore unsustainable, and the reassessment notices and the order under section 148A(3) were quashed.
HC held that reassessment based on an undated third-party complaint and other unverified material could not be sustained where there was no direct nexus with the assessee. The complaint was not authenticated, its author was not examined, and no further investigation linked the petitioner to any alleged cash transaction. The statements later recorded and the image of the cash receipt also failed to show any transaction by or with the petitioner. Reopening founded on conjectures and surmises was therefore unsustainable, and the reassessment notices and the order under section 148A(3) were quashed.
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