Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Black money - Liability of the appellant to be assessed under the provisions of BMIT Act 2015 - Definition of undisclosed asset in the back money act clearly provides that assets created out of income assessed in income tax already shall be excluded. Hence, when the revenue has already assessed these assets under income tax proceedings upto previous Assessment Year and for current assessment year time for filing the return has not expired, assessee’s plea that the issue of notice is premature is tenable and accordingly we accept the same. - AT
Black money - Liability of the appellant to be assessed under the provisions of BMIT Act 2015 - Definition of undisclosed asset in the back money act clearly provides that assets created out of income assessed in income tax already shall be excluded. Hence, when the revenue has already assessed these assets under income tax proceedings upto previous Assessment Year and for current assessment year time for filing the return has not expired, assessee’s plea that the issue of notice is premature is tenable and accordingly we accept the same. - AT
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TaxTMI 
TaxTMI 
of 4918 
