Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Section 53A of the Transfer of Property Act did not confer ownership for depreciation where there was no written and registered transfer instrument, so the assessee could not treat the properties as firm assets or claim depreciation on that basis. The assessment was also not vitiated by natural justice grounds because the show-cause process and repeated notices already covered the relevant factual basis, and the shift from unexplained investment to unexplained credit was treated as a consequence of the same inquiry. Having rejected the jurisdictional and procedural objections, the Court declined to examine the merits of the unexplained credit dispute in writ jurisdiction and relegated the assessee to the statutory appellate remedy.
Section 53A of the Transfer of Property Act did not confer ownership for depreciation where there was no written and registered transfer instrument, so the assessee could not treat the properties as firm assets or claim depreciation on that basis. The assessment was also not vitiated by natural justice grounds because the show-cause process and repeated notices already covered the relevant factual basis, and the shift from unexplained investment to unexplained credit was treated as a consequence of the same inquiry. Having rejected the jurisdictional and procedural objections, the Court declined to examine the merits of the unexplained credit dispute in writ jurisdiction and relegated the assessee to the statutory appellate remedy.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
