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...
Ad hoc disallowance of livestock purchases was unjustified where the assessing officer failed to identify missing documents or defects in the banking records, supplier confirmations and purchase details, and made no meaningful inquiry beyond issuing supplier notices. Computer-generated invoices lacking GST particulars did not establish bogus purchases because live bovine animals were GST-exempt and suppliers were not required to register. Thumb impressions on cash-purchase vouchers, without adverse material, likewise did not disprove genuineness. The disallowance treated as business income was deleted.
Ad hoc disallowance of livestock purchases was unjustified where the assessing officer failed to identify missing documents or defects in the banking records, supplier confirmations and purchase details, and made no meaningful inquiry beyond issuing supplier notices. Computer-generated invoices lacking GST particulars did not establish bogus purchases because live bovine animals were GST-exempt and suppliers were not required to register. Thumb impressions on cash-purchase vouchers, without adverse material, likewise did not disprove genuineness. The disallowance treated as business income was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4878 
