Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Reopening of assessment u/s 147 was invalid as statement recorded during survey cannot be solely relied upon without tangible material. Admission of additional income by director was not supported by evidence. Cash appearing in laptop was not proved to belong to assessee company. Reason to believe income escaped assessment must have rational connection with material evidence, which was lacking. Reassessment proceedings quashed as reasons recorded were insufficient and jurisdictional precondition of reason to believe was not met, rendering initiation ab-initio void. Decision in favor of assessee.
Reopening of assessment u/s 147 was invalid as statement recorded during survey cannot be solely relied upon without tangible material. Admission of additional income by director was not supported by evidence. Cash appearing in laptop was not proved to belong to assessee company. Reason to believe income escaped assessment must have rational connection with material evidence, which was lacking. Reassessment proceedings quashed as reasons recorded were insufficient and jurisdictional precondition of reason to believe was not met, rendering initiation ab-initio void. Decision in favor of assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
