Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Levy of tax on income derived from sale of saplings - Charging Section 3 of the Bengal Agricultural Income Tax Act, 1944 - The High Court held that Saplings are not considered "tea" based on common parlance and dictionary meanings. - The Tea Act, 1953's definition of "tea" is not applicable to the Act of 1944. - Income from saplings is not subject to tax under Section 3.
Levy of tax on income derived from sale of saplings - Charging Section 3 of the Bengal Agricultural Income Tax Act, 1944 - The High Court held that Saplings are not considered "tea" based on common parlance and dictionary meanings. - The Tea Act, 1953's definition of "tea" is not applicable to the Act of 1944. - Income from saplings is not subject to tax under Section 3.
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TaxTMI 
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