Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Validity of Re-assessment proceedings u/s 147 - Earlier the notice for Assessment u/s 153A/C was issued - denying deduction u/s 80IB - The High Court observed that the impugned reopening notice was based on the same issue that was subject to appeal, which led to the order dated 30th March 2015 by the CIT(A). The Court cited the third proviso to Section 147 of the Act, which prohibits reassessment of income involving matters that are the subject of any appeal, reference, or revision.
Validity of Re-assessment proceedings u/s 147 - Earlier the notice for Assessment u/s 153A/C was issued - denying deduction u/s 80IB - The High Court observed that the impugned reopening notice was based on the same issue that was subject to appeal, which led to the order dated 30th March 2015 by the CIT(A). The Court cited the third proviso to Section 147 of the Act, which prohibits reassessment of income involving matters that are the subject of any appeal, reference, or revision.
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