Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Section 129DD permits the revisional authority to annul or modify an appellate customs order and, absent an express prohibition, remit confiscation and redemption proceedings for fresh adjudication. Revisional review may correct an appellate finding that overlooks material evidence, including circumstances relevant to a purchase invoice and the claimant's burden to prove lawful import, without finally deciding redemption or confiscation. A separate show-cause notice is required only for enhancement of penalty or fine or confiscation of goods of greater value; it is unnecessary for remand where the affected party has been heard. Statutory revision time limits cannot be enlarged under the Limitation Act, but a limitation challenge fails where the communication date is unproved. The writ petition was dismissed and remand sustained.
Section 129DD permits the revisional authority to annul or modify an appellate customs order and, absent an express prohibition, remit confiscation and redemption proceedings for fresh adjudication. Revisional review may correct an appellate finding that overlooks material evidence, including circumstances relevant to a purchase invoice and the claimant's burden to prove lawful import, without finally deciding redemption or confiscation. A separate show-cause notice is required only for enhancement of penalty or fine or confiscation of goods of greater value; it is unnecessary for remand where the affected party has been heard. Statutory revision time limits cannot be enlarged under the Limitation Act, but a limitation challenge fails where the communication date is unproved. The writ petition was dismissed and remand sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
