Separate speaking orders on reopening objections are mandatory; deciding them within reassessment invalidates jurisdiction and precludes revival of st...
Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Benami characterisation of land acquired in an apparent purchaser's name rested on cumulative evidence of limited financial means, a statement that the sale deed was signed at the beneficial owner's behest, documented nexus between them, and proof of the payment source. A later retraction affidavit lacked support and was treated as unreliable because it conflicted with the sale deed, was delayed without explanation, and referred to an implausible future event. The land was treated as benami property, sustaining confirmation of provisional attachment.
Benami characterisation of land acquired in an apparent purchaser's name rested on cumulative evidence of limited financial means, a statement that the sale deed was signed at the beneficial owner's behest, documented nexus between them, and proof of the payment source. A later retraction affidavit lacked support and was treated as unreliable because it conflicted with the sale deed, was delayed without explanation, and referred to an implausible future event. The land was treated as benami property, sustaining confirmation of provisional attachment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
