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Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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Adverse material used to disallow exempt long-term capital gain on off-market share transactions had to be confronted to the assessee before assessment. The ITAT found the appellate relief unsustainable because the finding that notices and third-party responses had not been properly confronted was accepted without verifying the assessment record, and the precedents relied on concerned stock-exchange transactions rather than preferential allotment purchases. It also noted that the SEBI material referred to by the lower authorities was not placed on record. The additions were set aside and the matter was restored to the Assessing Officer for de novo adjudication after supplying all relied-upon material, with all contentions kept open.
Adverse material used to disallow exempt long-term capital gain on off-market share transactions had to be confronted to the assessee before assessment. The ITAT found the appellate relief unsustainable because the finding that notices and third-party responses had not been properly confronted was accepted without verifying the assessment record, and the precedents relied on concerned stock-exchange transactions rather than preferential allotment purchases. It also noted that the SEBI material referred to by the lower authorities was not placed on record. The additions were set aside and the matter was restored to the Assessing Officer for de novo adjudication after supplying all relied-upon material, with all contentions kept open.
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