Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to disallow the LTCG claimed by the assessee, emphasizing that the transactions lacked genuineness despite the documentation provided. The Tribunal concluded that the exemption claimed under Section 10(38) was a façade to conceal the true nature of the transactions, affirming the addition made by the AO.
Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to disallow the LTCG claimed by the assessee, emphasizing that the transactions lacked genuineness despite the documentation provided. The Tribunal concluded that the exemption claimed under Section 10(38) was a façade to conceal the true nature of the transactions, affirming the addition made by the AO.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
