Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
The extended period beyond six assessment years for a search assessment under the fourth proviso to section 153A(1) applies only where material available to the Assessing Officer shows escaped income represented by a stipulated asset of the required value. Alleged on-money receipts from project buyers, without a finding that those receipts were represented by such an asset, do not meet that condition. Assessments initiated beyond the six-year period on that basis were void ab initio, and the consequential reassessment orders for the relevant years were invalid.
The extended period beyond six assessment years for a search assessment under the fourth proviso to section 153A(1) applies only where material available to the Assessing Officer shows escaped income represented by a stipulated asset of the required value. Alleged on-money receipts from project buyers, without a finding that those receipts were represented by such an asset, do not meet that condition. Assessments initiated beyond the six-year period on that basis were void ab initio, and the consequential reassessment orders for the relevant years were invalid.
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