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...
Companies struck off under the Companies Act continue to exist for purposes of realising dues and discharging outstanding liabilities. Statutory saving provisions preserve the enforceability of liabilities against persons managing the company; therefore, assessment or reassessment is not invalid merely because the company has been struck off. Where the first appellate authority has not examined an unexplained-credit addition on merits because of non-appearance, fresh appellate consideration is required after providing an opportunity of hearing and allowing supporting material to be produced.
Companies struck off under the Companies Act continue to exist for purposes of realising dues and discharging outstanding liabilities. Statutory saving provisions preserve the enforceability of liabilities against persons managing the company; therefore, assessment or reassessment is not invalid merely because the company has been struck off. Where the first appellate authority has not examined an unexplained-credit addition on merits because of non-appearance, fresh appellate consideration is required after providing an opportunity of hearing and allowing supporting material to be produced.
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