Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Cancellation of registration of petitioner - petitioner firm remained ignorant of the order of the cancellation - The knowledge, which the petitioner attributes, that he could not obtain the knowledge, for a period of 477 days, in fact smacks a sense of irresponsibility for an assessee, who is facing an order of cancellation of its registration rendered on 21.09.2019, and particularly when the assessee i.e. the petitioner was, attributing its responsibility on the Advocate, without there being any pleading to the said effect - Since the appeal itself has been dismissed on the ground of limitation, the writ remedy would not be available to the petitioner. - HC
Cancellation of registration of petitioner - petitioner firm remained ignorant of the order of the cancellation - The knowledge, which the petitioner attributes, that he could not obtain the knowledge, for a period of 477 days, in fact smacks a sense of irresponsibility for an assessee, who is facing an order of cancellation of its registration rendered on 21.09.2019, and particularly when the assessee i.e. the petitioner was, attributing its responsibility on the Advocate, without there being any pleading to the said effect - Since the appeal itself has been dismissed on the ground of limitation, the writ remedy would not be available to the petitioner. - HC
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