Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
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...
Prosecution proceedings u/s 276CC and 277 - variation in the tax payments - The conduct of the petitioners in filing revised returns immediately after noticing error on their part indicate that it was a case of delayed payment of tax or deferred payment. - The petitioners have substantiated their contention by giving cogent and convincing reasons for submitting original tax returns with some errors. - Such delay in the payment will not amount to willful attempt to evade tax. - HC
Prosecution proceedings u/s 276CC and 277 - variation in the tax payments - The conduct of the petitioners in filing revised returns immediately after noticing error on their part indicate that it was a case of delayed payment of tax or deferred payment. - The petitioners have substantiated their contention by giving cogent and convincing reasons for submitting original tax returns with some errors. - Such delay in the payment will not amount to willful attempt to evade tax. - HC
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