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    Identity-theft defences do not bar reassessment, but Revenue must prove disputed transactions through primary evidence during proceedings.
    Discounted Cash Flow valuation for newly incorporated companies was accepted despite later notification under the prescribed valuation rule.
    Internal CUP method upheld for project-office transactions where contract risks, rewards and revenue were fully attributed to India.
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      Insolvency and Bankruptcy

      Approval of the Resolution Plan - Requirement of liability of PF...

      Tribunal Enforces Full Payment of EPF and ESI Dues, Mandates Settlement of Section 7Q and Waiver Application for 14B.

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      Insolvency and BankruptcyMarch 30, 2024Case LawsAT
      Approval of the Resolution Plan - Requirement of liability of PF and ESI dues to be paid in Full - Claim u/s 7A, 7Q, and 14B of the Employees' Provident Funds & Miscellaneous Provisions Act 1952 - The Tribunal noted that while the amount under Section 7A had been fully paid, no payment had been made towards the amounts claimed under Sections 7Q and 14B. It referred to legal precedents and held that all amounts claimed under Sections 7A, 7Q, and 14B were part of provident fund dues, emphasizing the importance of paying them in full. The Tribunal cited judgments and directed the Successful Resolution Applicant to make the necessary payments under Section 7Q within two months and apply for waiver of damages under Section 14B within 30 days.

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      ActsIncome Tax