Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Prosecution u/s 276C (2), 276CC and 276C (1) - willful attempt to evade the payment of tax and the penalty under Income Tax Act - Assessment u/s 143(3) r.w.s 153A - The High Court set aside the assessment order passed by the ITAT and remanded the matters for fresh disposal. The court directed the Assessing Officer to examine the issue in light of relevant material to determine the real beneficiary of the transactions. - As the order of assessment itself was set aside, the court held that the initiation of prosecution against the petitioner could not be sustained. Therefore, the criminal complaints filed against the petitioner were quashed.
Prosecution u/s 276C (2), 276CC and 276C (1) - willful attempt to evade the payment of tax and the penalty under Income Tax Act - Assessment u/s 143(3) r.w.s 153A - The High Court set aside the assessment order passed by the ITAT and remanded the matters for fresh disposal. The court directed the Assessing Officer to examine the issue in light of relevant material to determine the real beneficiary of the transactions. - As the order of assessment itself was set aside, the court held that the initiation of prosecution against the petitioner could not be sustained. Therefore, the criminal complaints filed against the petitioner were quashed.
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