Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
A writ petition may be entertained against a show-cause notice where the challenge concerns jurisdiction and discloses a prima facie case, despite pending statutory proceedings. The authority is not prevented from considering and deciding the notice; however, the affected parties must participate in the proceedings, while enforcement of any resulting decision may be restrained pending disposal of the writ petition or further orders. The court does not determine the merits of the underlying jurisdictional objection at this stage, including the scope of the relevant notification or the authority to issue the notice under Section 73. The arrangement preserves participation in adjudication while providing interim protection against enforcement.
A writ petition may be entertained against a show-cause notice where the challenge concerns jurisdiction and discloses a prima facie case, despite pending statutory proceedings. The authority is not prevented from considering and deciding the notice; however, the affected parties must participate in the proceedings, while enforcement of any resulting decision may be restrained pending disposal of the writ petition or further orders. The court does not determine the merits of the underlying jurisdictional objection at this stage, including the scope of the relevant notification or the authority to issue the notice under Section 73. The arrangement preserves participation in adjudication while providing interim protection against enforcement.
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