Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Income Disclosure Scheme, 2016 immunity protected declared...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 153A.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Income Disclosure Scheme, 2016 immunity protected declared long-term capital gains from further taxation where the taxpayer had disclosed the share-sale gains and paid the prescribed tax. ITAT therefore upheld deletion of the addition for differential share-sale proceeds under section 68. For unabated assessments under section 153A, additions require incriminating material found during the search of the taxpayer. Third-party investigation material and statements recorded in other proceedings did not satisfy that requirement. ITAT sustained deletion of additions relating to alleged bogus capital gains and short-term capital loss, dismissed the Department's appeals, and dismissed unpressed cross-objections.
Income Disclosure Scheme, 2016 immunity protected declared long-term capital gains from further taxation where the taxpayer had disclosed the share-sale gains and paid the prescribed tax. ITAT therefore upheld deletion of the addition for differential share-sale proceeds under section 68. For unabated assessments under section 153A, additions require incriminating material found during the search of the taxpayer. Third-party investigation material and statements recorded in other proceedings did not satisfy that requirement. ITAT sustained deletion of additions relating to alleged bogus capital gains and short-term capital loss, dismissed the Department's appeals, and dismissed unpressed cross-objections.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
