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 High Court declined to continue contempt proceedings arising from post-judgment collection of anti-dumping duty. It accepted the respondents' explanation that the continued levy resulted from an inadvertent misinterpretation of the earlier order, not wilful or deliberate disobedience, and noted that collection had been stopped. The Court further recorded that refund of the amounts collected had been decided upon, the petitioner had applied for refund, and the refund applications would be processed immediately. In these circumstances, it held that no useful purpose would be served by retaining the contempt application and disposed of the matter.
The High Court declined to continue contempt proceedings arising from post-judgment collection of anti-dumping duty. It accepted the respondents' explanation that the continued levy resulted from an inadvertent misinterpretation of the earlier order, not wilful or deliberate disobedience, and noted that collection had been stopped. The Court further recorded that refund of the amounts collected had been decided upon, the petitioner had applied for refund, and the refund applications would be processed immediately. In these circumstances, it held that no useful purpose would be served by retaining the contempt application and disposed of the matter.
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TaxTMI 
TaxTMI 
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