Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Estimation of income from the business of plying of buses - The deposit of the specified bank notes is about 5% of the total turnover of the assessee. When the AO himself has estimated the income of the assessee at 2.25%, it would be farfetched even presumed that 5% of the assessee’s turnover could be an undisclosed income of the assessee from the operation of the contracted Government buses. - AT
Estimation of income from the business of plying of buses - The deposit of the specified bank notes is about 5% of the total turnover of the assessee. When the AO himself has estimated the income of the assessee at 2.25%, it would be farfetched even presumed that 5% of the assessee’s turnover could be an undisclosed income of the assessee from the operation of the contracted Government buses. - AT
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