Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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In the case before Punjab and Haryana High Court, undisclosed investment made to acquire rights in family property was deemed as undisclosed income for the block period. The revenue authorities found a receipt during search indicating the sister-in-law confirmed receiving the amount with no further payment due. The Income Tax Appellate Authority rejected the sister-in-law's certificate as biased towards the appellant. The court upheld the ITAT's decision that the property was handed over after full payment, supported by a demand draft receipt. The appellant's subsequent payments to the sister-in-law were not considered relevant as they were made after the search and without clear indication of settling the remaining amount. The appeal was dismissed, affirming the ITAT's order.
In the case before Punjab and Haryana High Court, undisclosed investment made to acquire rights in family property was deemed as undisclosed income for the block period. The revenue authorities found a receipt during search indicating the sister-in-law confirmed receiving the amount with no further payment due. The Income Tax Appellate Authority rejected the sister-in-law's certificate as biased towards the appellant. The court upheld the ITAT's decision that the property was handed over after full payment, supported by a demand draft receipt. The appellant's subsequent payments to the sister-in-law were not considered relevant as they were made after the search and without clear indication of settling the remaining amount. The appeal was dismissed, affirming the ITAT's order.
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