Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
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Validity of reopening of assessment - Validity of multiple notices issued under various sections of the Income Tax Act, particularly targeting the application of Section 50C to a buyer rather than a seller. - Section 50C applies only to sellers and not buyers. It was held that there was a non-application of mind in issuing the order under Section 148A(d), as the authorities failed to recognize this distinction. Furthermore, the court rejected the respondent's explanation of 'human error' and emphasized that issuing authorities must thoroughly apply their minds before sanctioning such notices. The petition was allowed, leading to the quashing of the impugned notices. - HC
Validity of reopening of assessment - Validity of multiple notices issued under various sections of the Income Tax Act, particularly targeting the application of Section 50C to a buyer rather than a seller. - Section 50C applies only to sellers and not buyers. It was held that there was a non-application of mind in issuing the order under Section 148A(d), as the authorities failed to recognize this distinction. Furthermore, the court rejected the respondent's explanation of 'human error' and emphasized that issuing authorities must thoroughly apply their minds before sanctioning such notices. The petition was allowed, leading to the quashing of the impugned notices. - HC
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