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...
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The Delhi High Court dismissed a Public Interest Litigation alleging money laundering and tax evasion through undervalued share transfer. The Petitioner sought investigation into share sale valuation, but as the IT Department had examined it during Respondent No. 7's block assessment without adverse findings, no further directions were deemed necessary. The Court noted a previous petition by the same Petitioner against a common Respondent was dismissed as motivated, leading to the opinion that entertaining the present PIL did not serve the cause of justice or PIL objectives. The petition was dismissed.
The Delhi High Court dismissed a Public Interest Litigation alleging money laundering and tax evasion through undervalued share transfer. The Petitioner sought investigation into share sale valuation, but as the IT Department had examined it during Respondent No. 7's block assessment without adverse findings, no further directions were deemed necessary. The Court noted a previous petition by the same Petitioner against a common Respondent was dismissed as motivated, leading to the opinion that entertaining the present PIL did not serve the cause of justice or PIL objectives. The petition was dismissed.
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