Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
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Under the amended reassessment regime, the High Court held that capital gains from the property transfer had to be computed with the stamp duty valuation under Sections 148, 149, 50C and 48. Because the petitioner's one-fourth share, valued on that basis, exceeded the statutory threshold of fifty lakh rupees, the extended limitation period applied and the Section 148A(d) order and consequential Section 148 notice were not without jurisdiction. The Court also held that the complaint that the written reply was not considered did not alter the result once limitation was decided against the petitioner. The writ petition was dismissed and assessment was directed to proceed, excluding the period spent before the Court for limitation purposes.
Under the amended reassessment regime, the High Court held that capital gains from the property transfer had to be computed with the stamp duty valuation under Sections 148, 149, 50C and 48. Because the petitioner's one-fourth share, valued on that basis, exceeded the statutory threshold of fifty lakh rupees, the extended limitation period applied and the Section 148A(d) order and consequential Section 148 notice were not without jurisdiction. The Court also held that the complaint that the written reply was not considered did not alter the result once limitation was decided against the petitioner. The writ petition was dismissed and assessment was directed to proceed, excluding the period spent before the Court for limitation purposes.
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