Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
CBDT Instruction No. 1916 prescribes guidelines for seizure of jewellery during search; it does not grant an unconditional exemption from assessment. The source, nature and ownership of jewellery must be established on the facts. Joint residence does not by itself create a common ownership pool or permit adjustment of other family members' permissible limits against jewellery separately identified in one person's bedroom, particularly where that benefit has been considered in other assessments. On these facts, the addition for unexplained gold jewellery was sustained.
CBDT Instruction No. 1916 prescribes guidelines for seizure of jewellery during search; it does not grant an unconditional exemption from assessment. The source, nature and ownership of jewellery must be established on the facts. Joint residence does not by itself create a common ownership pool or permit adjustment of other family members' permissible limits against jewellery separately identified in one person's bedroom, particularly where that benefit has been considered in other assessments. On these facts, the addition for unexplained gold jewellery was sustained.
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