Appellate jurisdiction over baggage imports is excluded, requiring confiscation challenges involving passenger-carried gold to proceed by statutory re...
Article 227 review permits intervention in arbitration only for manifest, patent inherent jurisdictional defects, not representational authority dispu...
Addition made u/s. 69/69B - difference between the stamp duty value and the sale consideration with respect to purchase of property - family settlement to constitute "transfer" or not - The Tribunal found that the addition under section 69 was incorrect as the investment was recorded in the books. For section 69B, the AO failed to provide evidence that the assessee expended more than recorded. The Tribunal also noted that section 56(2)(vii)(b) was not applicable to companies and section 56(2)(x) was effective from AY 2017-18. The Tribunal concluded that the transaction under family settlement did not amount to a "transfer" and deleted the addition.
Addition made u/s. 69/69B - difference between the stamp duty value and the sale consideration with respect to purchase of property - family settlement to constitute "transfer" or not - The Tribunal found that the addition under section 69 was incorrect as the investment was recorded in the books. For section 69B, the AO failed to provide evidence that the assessee expended more than recorded. The Tribunal also noted that section 56(2)(vii)(b) was not applicable to companies and section 56(2)(x) was effective from AY 2017-18. The Tribunal concluded that the transaction under family settlement did not amount to a "transfer" and deleted the addition.
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TaxTMI 
TaxTMI 
