Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Long-term capital gains on share transactions were accepted as genuine where the assessee produced complete documentary evidence of purchase, amalgamation, dematerialisation, stock exchange sale, STT payment, broker records and banking receipts. The Tribunal held that such direct evidence discharged the burden of proof, and that suspicion, price movement and general human probabilities could not override it without independent inquiry or contrary material linking the assessee to an entry operator or rigging arrangement. As the share sale was treated as genuine, the consequential addition for alleged accommodation-entry commission under section 69C also failed and was deleted.
Long-term capital gains on share transactions were accepted as genuine where the assessee produced complete documentary evidence of purchase, amalgamation, dematerialisation, stock exchange sale, STT payment, broker records and banking receipts. The Tribunal held that such direct evidence discharged the burden of proof, and that suspicion, price movement and general human probabilities could not override it without independent inquiry or contrary material linking the assessee to an entry operator or rigging arrangement. As the share sale was treated as genuine, the consequential addition for alleged accommodation-entry commission under section 69C also failed and was deleted.
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