Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
An adverse order under Section 129(3) must be preceded by consideration of the affected party's objections and an adequate hearing. Where objections were filed but ignored, and the order was passed without recording reasons on the penalty issue or dealing with the submissions made, the order is vitiated for breach of natural justice and audi alteram partem. The proper course is to set aside such an order and remand the matter for fresh adjudication through a reasoned decision after granting a fair opportunity of hearing.
An adverse order under Section 129(3) must be preceded by consideration of the affected party's objections and an adequate hearing. Where objections were filed but ignored, and the order was passed without recording reasons on the penalty issue or dealing with the submissions made, the order is vitiated for breach of natural justice and audi alteram partem. The proper course is to set aside such an order and remand the matter for fresh adjudication through a reasoned decision after granting a fair opportunity of hearing.
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