Letter of Approval for IFSC units authorises SEZ facilities subject to statutory approvals, operational conditions, validity, renewal and cancellation...
Page of 4819
Press 'Enter' after typing page number.
6201 to 6220 of 96365 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reassessment under Section 148 requires prima facie material showing a live link between the seized material and alleged income escaping assessment. The High Court held that vague, non-specific loose papers referring only to survey numbers, a rate and a third person's name, without the assessee's name or any nexus to her, could not justify reopening. The expressions "relates to" and "pertains to" in Explanation 2 to Section 148 cannot be applied in isolation; the Revenue must assess the material against surrounding circumstances and record prima facie relevancy. As the information lacked that connection, the notice and consequential reopening were quashed.
Reassessment under Section 148 requires prima facie material showing a live link between the seized material and alleged income escaping assessment. The High Court held that vague, non-specific loose papers referring only to survey numbers, a rate and a third person's name, without the assessee's name or any nexus to her, could not justify reopening. The expressions "relates to" and "pertains to" in Explanation 2 to Section 148 cannot be applied in isolation; the Revenue must assess the material against surrounding circumstances and record prima facie relevancy. As the information lacked that connection, the notice and consequential reopening were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
