Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Penalty under section 271AAC(1) was not sustainable where unexplained cash deposits were assessed only by estimating and restricting the addition to a profit percentage. An ad hoc estimated addition did not, by itself, establish conscious concealment or undisclosed income. The penalty levied solely on that estimated addition was therefore deleted, and the appeal was allowed.
Penalty under section 271AAC(1) was not sustainable where unexplained cash deposits were assessed only by estimating and restricting the addition to a profit percentage. An ad hoc estimated addition did not, by itself, establish conscious concealment or undisclosed income. The penalty levied solely on that estimated addition was therefore deleted, and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
