Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Revision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation loss or not - Transaction in question involved settlement otherwise than the actual delivery or transfer of any commodity - PCIT proceeded on a different angle which were not the materials based on which show cause notice was issued. Thus, a fundamental error has been committed by the PCIT by proceeding based upon certain alleged facts which were never brought on record at the time of issuance of the show cause notice. When the matter was carried on appeal to the tribunal, the tribunal examined the documents and found that the transaction done by the assessee was an eligible transaction in respect of trading in derivatives - HC
Revision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation loss or not - Transaction in question involved settlement otherwise than the actual delivery or transfer of any commodity - PCIT proceeded on a different angle which were not the materials based on which show cause notice was issued. Thus, a fundamental error has been committed by the PCIT by proceeding based upon certain alleged facts which were never brought on record at the time of issuance of the show cause notice. When the matter was carried on appeal to the tribunal, the tribunal examined the documents and found that the transaction done by the assessee was an eligible transaction in respect of trading in derivatives - HC
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