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...
Trial Court did not judicially determine admissibility of insufficiently stamped instrument, merely exercising inherent power u/s 151 CPC to prevent abuse of process. Section 35 of Stamp Act not attracted without judicial determination on admissibility. Courts entrusted to ensure payment of requisite stamp duty, uphold sanctity of legal framework governing stamp duty. Allowing insufficiently stamped instrument undermines legislative intent and fiscal interests. Trial Court's order restoring, High Court order set aside, appeal allowed.
Trial Court did not judicially determine admissibility of insufficiently stamped instrument, merely exercising inherent power u/s 151 CPC to prevent abuse of process. Section 35 of Stamp Act not attracted without judicial determination on admissibility. Courts entrusted to ensure payment of requisite stamp duty, uphold sanctity of legal framework governing stamp duty. Allowing insufficiently stamped instrument undermines legislative intent and fiscal interests. Trial Court's order restoring, High Court order set aside, appeal allowed.
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