The issue was whether reassessment notice issued after six years was valid. The Court upheld that such notices are time-barred and cannot be sustained under law.
The Court examined whether reassessment notice issued beyond limitation was valid. It held that notices issued after expiry of the six-year limit under the old regime are barred and liable to be set aside.
The case examined whether a tube-fed nutritional liquid qualifies as a beverage. Authorities held that its clinical use and lack of consumption as a drink exclude it from beverage classification.
The issue highlights illegal confiscation of goods under Section 130 without evidence of tax evasion. The key takeaway is that penal provisions cannot be invoked without proving intent to evade tax.
The procedure outlines steps for altering the Memorandum of Association, including board approval, shareholder resolution, and regulatory filings. It emphasizes that changes become effective only after Registrar or government approval.
The Court held that reassessment under Sections 147/148 cannot be initiated solely on third-party data without independent evidence of income escapement. It ruled that such reopening amounts to suspicion and lacks the required “reason to believe.”
The Tribunal upheld disallowance of deduction where donations were routed back to donors through layered transactions. The key takeaway is that non-genuine donations do not qualify for tax deduction.
The discussion highlights the key dilemma faced after CA qualification—practice or job. It concludes that the right choice depends on risk appetite, financial needs, and long-term career goals.
The Bill decriminalises minor offences by converting them into civil penalties, reducing fear of prosecution for procedural lapses. This approach encourages compliance while maintaining deterrence through financial penalties.
The law granting special powers to armed forces was upheld, but courts emphasized that such powers are not absolute. Safeguards like proportional use of force and timely handover of detainees were mandated.
