Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Section 536(2) was construed as making post-petition dispositions voidable rather than automatically void, so the court could validate a bona fide transaction if it benefited the company or creditors. The first transaction was validated because the applicant showed no knowledge of the winding-up petition despite due diligence, paid above market value, used the proceeds to discharge creditors, and no fraud, taint, or undervaluation was proved. Alleged statutory dues did not defeat validation on the material before the court. The second transaction, being a private inter se transfer, was held outside the scope of the application and was not adjudicated.
Section 536(2) was construed as making post-petition dispositions voidable rather than automatically void, so the court could validate a bona fide transaction if it benefited the company or creditors. The first transaction was validated because the applicant showed no knowledge of the winding-up petition despite due diligence, paid above market value, used the proceeds to discharge creditors, and no fraud, taint, or undervaluation was proved. Alleged statutory dues did not defeat validation on the material before the court. The second transaction, being a private inter se transfer, was held outside the scope of the application and was not adjudicated.
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