Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
Inordinate delay of more than 2100 days in filing revisions was not condoned because the revisionists offered no plausible explanation, had absconded after conviction, and had shown disregard for the court process. Despite that, the High Court set aside the non-speaking appellate judgments because the criminal appeals had been decided in the appellants' absence without appointment of amicus curiae and without the required scrutiny of the record and trial court reasoning. Applying the rule in Bani Singh and related authorities, the Court held that such defective disposal could not stand and revived the appeals for fresh hearing on merits, subject to deposit of part of the fine and payment of costs.
Inordinate delay of more than 2100 days in filing revisions was not condoned because the revisionists offered no plausible explanation, had absconded after conviction, and had shown disregard for the court process. Despite that, the High Court set aside the non-speaking appellate judgments because the criminal appeals had been decided in the appellants' absence without appointment of amicus curiae and without the required scrutiny of the record and trial court reasoning. Applying the rule in Bani Singh and related authorities, the Court held that such defective disposal could not stand and revived the appeals for fresh hearing on merits, subject to deposit of part of the fine and payment of costs.
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