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...
In completed or unabated assessments under section 153A, additions are confined to incriminating material found during the search; material already available with the Revenue, such as the HSBC Geneva Base Note, cannot by itself support an addition. Applying that rule, the article notes that the additions for the relevant year were unsustainable because no incriminating search material linked to them was found. On section 69A, the threshold requirement is proof that the assessee owned the money or asset; where the foreign accounts stood in third-party names and the Revenue could not prove ownership, the additions were properly deleted.
In completed or unabated assessments under section 153A, additions are confined to incriminating material found during the search; material already available with the Revenue, such as the HSBC Geneva Base Note, cannot by itself support an addition. Applying that rule, the article notes that the additions for the relevant year were unsustainable because no incriminating search material linked to them was found. On section 69A, the threshold requirement is proof that the assessee owned the money or asset; where the foreign accounts stood in third-party names and the Revenue could not prove ownership, the additions were properly deleted.
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