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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
A pre-existing dispute barred admission of the Section 9 insolvency application where the corporate debtor's reply to the demand notice expressly denied liability and disputed the claim amount, and prior correspondence had already recorded defects, delay and deficient performance. Applying the Mobilox test, the Tribunal held that it was enough that the defence disclosed a plausible dispute requiring further adjudication; the Adjudicating Authority was not to decide the merits of the contractual controversy. The dispute was neither moonshine nor illusory, so insolvency could not be used as a substitute for recovery or contractual adjudication. The rejection of the Section 9 application was therefore affirmed, with liberty to pursue other remedies in law.
A pre-existing dispute barred admission of the Section 9 insolvency application where the corporate debtor's reply to the demand notice expressly denied liability and disputed the claim amount, and prior correspondence had already recorded defects, delay and deficient performance. Applying the Mobilox test, the Tribunal held that it was enough that the defence disclosed a plausible dispute requiring further adjudication; the Adjudicating Authority was not to decide the merits of the contractual controversy. The dispute was neither moonshine nor illusory, so insolvency could not be used as a substitute for recovery or contractual adjudication. The rejection of the Section 9 application was therefore affirmed, with liberty to pursue other remedies in law.
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