Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Money Laundering - Validity of seizures, freezing, orders and of the consequential actions - The High Court found that the ED had followed the procedural requirements under the PMLA. The Deputy Director's reasons to believe were properly recorded, and the Assistant Director was duly authorized to conduct the searches and issue the freezing orders. The Court upheld the legality of the ED's actions, dismissing the petitioners' claims of procedural and authorization failures. - In conclusion, the Calcutta High Court dismissed the petition.
Money Laundering - Validity of seizures, freezing, orders and of the consequential actions - The High Court found that the ED had followed the procedural requirements under the PMLA. The Deputy Director's reasons to believe were properly recorded, and the Assistant Director was duly authorized to conduct the searches and issue the freezing orders. The Court upheld the legality of the ED's actions, dismissing the petitioners' claims of procedural and authorization failures. - In conclusion, the Calcutta High Court dismissed the petition.
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