Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Documentary evidence of purchase, holding and sale of listed shares, including contract notes, demat records and bank statements, was sufficient to discharge the initial onus of genuineness. General investigation-wing material on alleged penny stock accommodation entries could not sustain an addition under section 68 without independent inquiry or specific adverse evidence linking the assessee or broker to price manipulation. Denial of cross-examination of the persons whose statements were relied on further weakened the revenue case. As the section 68 addition failed, the consequential commission addition under section 69C also fell and was deleted.
Documentary evidence of purchase, holding and sale of listed shares, including contract notes, demat records and bank statements, was sufficient to discharge the initial onus of genuineness. General investigation-wing material on alleged penny stock accommodation entries could not sustain an addition under section 68 without independent inquiry or specific adverse evidence linking the assessee or broker to price manipulation. Denial of cross-examination of the persons whose statements were relied on further weakened the revenue case. As the section 68 addition failed, the consequential commission addition under section 69C also fell and was deleted.
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