Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Full and true disclosure under Section 245C(1) must extend to the entire settlement application, including the manner in which undisclosed income was derived and supporting particulars. A voluntary disclosure does not remove this statutory requirement; failure to substantiate a disputed income component can invalidate the settlement application as a whole, rather than permit piecemeal consideration. The notes further state that the Settlement Commission must examine the application as filed and cannot recharacterise income disclosed as business income under Section 69B or apply Section 115BBE. Any alternative assessment and consequential tax treatment must arise in regular assessment proceedings before the Assessing Officer.
Full and true disclosure under Section 245C(1) must extend to the entire settlement application, including the manner in which undisclosed income was derived and supporting particulars. A voluntary disclosure does not remove this statutory requirement; failure to substantiate a disputed income component can invalidate the settlement application as a whole, rather than permit piecemeal consideration. The notes further state that the Settlement Commission must examine the application as filed and cannot recharacterise income disclosed as business income under Section 69B or apply Section 115BBE. Any alternative assessment and consequential tax treatment must arise in regular assessment proceedings before the Assessing Officer.
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TaxTMI 
TaxTMI 
