Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Reassessment proceedings initiated by a notice issued in the name of an assessee already deceased are jurisdictionally defective. A valid reassessment notice must be addressed to a living assessee or, where permitted, to the legal representative. Provisions allowing continuation of existing proceedings against legal representatives do not cure proceedings initiated only after the assessee's death. Where no fresh notice is issued to the legal representatives within the prescribed period, the reassessment lacks jurisdiction. The notice, consequential reassessment proceedings and assessment order are void in law and liable to be quashed.
Reassessment proceedings initiated by a notice issued in the name of an assessee already deceased are jurisdictionally defective. A valid reassessment notice must be addressed to a living assessee or, where permitted, to the legal representative. Provisions allowing continuation of existing proceedings against legal representatives do not cure proceedings initiated only after the assessee's death. Where no fresh notice is issued to the legal representatives within the prescribed period, the reassessment lacks jurisdiction. The notice, consequential reassessment proceedings and assessment order are void in law and liable to be quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4902 
