Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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Validity of assessment order - as argued without giving the petitioner an opportunity to reply by granting adjournment, the second respondent has now passed the assessment order by adding a further sum towards addition u/s 68 - The High Court, after careful consideration, agreed with the petitioner's contentions. It found that the order lacked procedural fairness and that the additions to the taxable income were not justified. As a result, the impugned order was quashed, and the case was remitted back to the first respondent for fresh assessment within 90 days.
Validity of assessment order - as argued without giving the petitioner an opportunity to reply by granting adjournment, the second respondent has now passed the assessment order by adding a further sum towards addition u/s 68 - The High Court, after careful consideration, agreed with the petitioner's contentions. It found that the order lacked procedural fairness and that the additions to the taxable income were not justified. As a result, the impugned order was quashed, and the case was remitted back to the first respondent for fresh assessment within 90 days.
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