Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Reassessment under section 148 requires prima facie material that can link the assessee to the alleged escaped income; the expressions "relates to" and "pertains to" in Explanation 2 cannot be read in isolation. The revenue must examine seized material with surrounding circumstances and record its relevance to the assessee. Where the relied-upon document is vague, unspecific, names another person, and is connected only by later collateral information, no live nexus is established. In such circumstances, reopening is based on conjecture and is unsustainable, and the reopening notices and consequential assessment orders are liable to be quashed.
Reassessment under section 148 requires prima facie material that can link the assessee to the alleged escaped income; the expressions "relates to" and "pertains to" in Explanation 2 cannot be read in isolation. The revenue must examine seized material with surrounding circumstances and record its relevance to the assessee. Where the relied-upon document is vague, unspecific, names another person, and is connected only by later collateral information, no live nexus is established. In such circumstances, reopening is based on conjecture and is unsustainable, and the reopening notices and consequential assessment orders are liable to be quashed.
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