Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
Fair opportunity to a non-party affected by insolvency proceedings requires consideration of its pending intervention application before final adjudication of the Section 7 company petition. The application under Section 60(5) alleged collusive initiation of insolvency proceedings and asserted potential effects on the applicant's rights and property. In the stated circumstances, judicial fairness required the Tribunal to determine that application first because no compelling urgency justified finalising the insolvency petition while it remained pending. The Tribunal was directed to decide the application within three months, if not already decided, and thereafter determine the insolvency petition on merits.
Fair opportunity to a non-party affected by insolvency proceedings requires consideration of its pending intervention application before final adjudication of the Section 7 company petition. The application under Section 60(5) alleged collusive initiation of insolvency proceedings and asserted potential effects on the applicant's rights and property. In the stated circumstances, judicial fairness required the Tribunal to determine that application first because no compelling urgency justified finalising the insolvency petition while it remained pending. The Tribunal was directed to decide the application within three months, if not already decided, and thereafter determine the insolvency petition on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
