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...
The Supreme Court considered the Condonation of Delay in filing an appeal for compensation enhancement, analyzing the applicability of Limitation Act provisions. The Court emphasized the discretionary power of courts in condoning delay, stating that while Section 5 of the Limitation Act should be construed liberally, Section 3 must be strictly interpreted. The Court highlighted that the right of a decree-holder becomes substantive after the limitation period expires, and this right should not be lightly disturbed. The Court declined to exercise its discretionary power to condone the delay, noting the negligence of the claimants in pursuing the appeal and the lack of due diligence. The High Court's decision not to condone the delay was upheld, and the Special Leave Petition was dismissed for lacking merit.
The Supreme Court considered the Condonation of Delay in filing an appeal for compensation enhancement, analyzing the applicability of Limitation Act provisions. The Court emphasized the discretionary power of courts in condoning delay, stating that while Section 5 of the Limitation Act should be construed liberally, Section 3 must be strictly interpreted. The Court highlighted that the right of a decree-holder becomes substantive after the limitation period expires, and this right should not be lightly disturbed. The Court declined to exercise its discretionary power to condone the delay, noting the negligence of the claimants in pursuing the appeal and the lack of due diligence. The High Court's decision not to condone the delay was upheld, and the Special Leave Petition was dismissed for lacking merit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
