Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material, along with statements by involved parties, constituted incriminating evidence, warranting proceedings under section 153C. Citing precedent from various judicial decisions, the ITAT Delhi concluded that the failure to follow the procedure under section 153C invalidated the reassessment under section 147/148. Consequently, the ITAT Delhi upheld the decision of the CIT(A) to quash the reassessment.
Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material, along with statements by involved parties, constituted incriminating evidence, warranting proceedings under section 153C. Citing precedent from various judicial decisions, the ITAT Delhi concluded that the failure to follow the procedure under section 153C invalidated the reassessment under section 147/148. Consequently, the ITAT Delhi upheld the decision of the CIT(A) to quash the reassessment.
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