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...
Jurisdiction for issuance of SCN - assessment in relation to the petitioner-assessee is assigned to Central Taxation Authority - the petitioner instead of challenging the show cause notice at this stage should workout its remedy. At present, only show cause notice has been issued. The petitioner may raise various grounds, except the issue of jurisdiction, which has been raised in the writ petition and the same are required to be considered by the authority. - HC
Jurisdiction for issuance of SCN - assessment in relation to the petitioner-assessee is assigned to Central Taxation Authority - the petitioner instead of challenging the show cause notice at this stage should workout its remedy. At present, only show cause notice has been issued. The petitioner may raise various grounds, except the issue of jurisdiction, which has been raised in the writ petition and the same are required to be considered by the authority. - HC
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