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Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Where reopening rested solely on incriminating material seized in a search on another person, the special search assessment mechanism under section 153C prevailed over general reassessment under sections 147/148, and the reassessment was held bad in law. In the absence of the searched person's Assessing Officer's satisfaction note and any independent post-search material, jurisdiction under sections 147/148 could not be assumed on third-party search material alone. The objection of borrowed satisfaction was rejected because the Assessing Officer had issued notice, sought an explanation under section 148A(b), and passed a reasoned order under section 148A(d), showing independent application of mind.
Where reopening rested solely on incriminating material seized in a search on another person, the special search assessment mechanism under section 153C prevailed over general reassessment under sections 147/148, and the reassessment was held bad in law. In the absence of the searched person's Assessing Officer's satisfaction note and any independent post-search material, jurisdiction under sections 147/148 could not be assumed on third-party search material alone. The objection of borrowed satisfaction was rejected because the Assessing Officer had issued notice, sought an explanation under section 148A(b), and passed a reasoned order under section 148A(d), showing independent application of mind.
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