Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The NCLAT declined to interfere with an interim protective order in oppression and mismanagement proceedings, holding that the order merely preserved the status quo and protected the subject matter pending NCLT adjudication. It found the appellants' complaint that their case had not been considered to be unfounded because the impugned order recorded their stand. The Tribunal also noted that the earlier restraint order had not been challenged. As no appellate error was shown in the discretionary interim arrangement, the modified directions already issued concerning operation of the bank accounts were continued.
The NCLAT declined to interfere with an interim protective order in oppression and mismanagement proceedings, holding that the order merely preserved the status quo and protected the subject matter pending NCLT adjudication. It found the appellants' complaint that their case had not been considered to be unfounded because the impugned order recorded their stand. The Tribunal also noted that the earlier restraint order had not been challenged. As no appellate error was shown in the discretionary interim arrangement, the modified directions already issued concerning operation of the bank accounts were continued.
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TaxTMI 
TaxTMI 
of 4918 
