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...
Penalty u/s 271E - violation of the provisions of section 269T - amount of loan was reduced by way of passing the journal entry - Entries were duly reflected by the assessee in accounts of the parties involved in the impugned transaction of loan and purchase of the land. In our considered view, the genuineness of the transactions for the purchase of land cannot be proved without filing the necessary details. - Matter restored back - AT
Penalty u/s 271E - violation of the provisions of section 269T - amount of loan was reduced by way of passing the journal entry - Entries were duly reflected by the assessee in accounts of the parties involved in the impugned transaction of loan and purchase of the land. In our considered view, the genuineness of the transactions for the purchase of land cannot be proved without filing the necessary details. - Matter restored back - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
