Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Validity of Reopening of assessment - acquisition of immovable property jointly - husband’s assessment in hands of wife - The court quashed and set aside the order dated 31st March 2023 passed under Section 148A(d) of the Act. The court concluded that it was not a suitable case for reopening the assessment concerning the petitioner. The court highlighted the lack of necessity in seeking details from the petitioner regarding the source of funds, given that it was established that she had no involvement in the transactions. Moreover, the court noted the surprising behavior of the Principal Chief Commissioner of Income Tax, who sanctioned the issuance of the order instead of directing the assessing officer to drop the proceedings against the petitioner.
Validity of Reopening of assessment - acquisition of immovable property jointly - husband’s assessment in hands of wife - The court quashed and set aside the order dated 31st March 2023 passed under Section 148A(d) of the Act. The court concluded that it was not a suitable case for reopening the assessment concerning the petitioner. The court highlighted the lack of necessity in seeking details from the petitioner regarding the source of funds, given that it was established that she had no involvement in the transactions. Moreover, the court noted the surprising behavior of the Principal Chief Commissioner of Income Tax, who sanctioned the issuance of the order instead of directing the assessing officer to drop the proceedings against the petitioner.
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TaxTMI 
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