Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Reassessment jurisdiction was sustained because reasons to believe were recorded and the prescribed statutory procedure was followed. However, additions for alleged unexplained income and expenditure drawn from seized ledger entries could not be made again in another assessee's hands where the ledger owner had accepted the entire recorded amounts and those amounts had already been substantively assessed and confirmed in that person's hands. Corresponding protective additions in the company's hands also could not survive after the substantive additions in the individual's hands were deleted on merits. The challenges to reassessment failed, while the duplicate substantive and related protective additions were deleted.
Reassessment jurisdiction was sustained because reasons to believe were recorded and the prescribed statutory procedure was followed. However, additions for alleged unexplained income and expenditure drawn from seized ledger entries could not be made again in another assessee's hands where the ledger owner had accepted the entire recorded amounts and those amounts had already been substantively assessed and confirmed in that person's hands. Corresponding protective additions in the company's hands also could not survive after the substantive additions in the individual's hands were deleted on merits. The challenges to reassessment failed, while the duplicate substantive and related protective additions were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
