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...
Section 3(1) of Black Money Act provides for taxation of undisclosed foreign assets in the year they came to notice of Assessing Officer. Assets acquired before Act's commencement but not disclosed under Chapter 6 are deemed acquired in year of Section 10 notice. Accused bound to declare foreign assets u/s 59. Court granted anticipatory bail on Rs. 5 lakh bond with conditions of cooperating with IT Dept, not inducing witnesses, not leaving India without permission, surrendering passport, and not committing similar offence.
Section 3(1) of Black Money Act provides for taxation of undisclosed foreign assets in the year they came to notice of Assessing Officer. Assets acquired before Act's commencement but not disclosed under Chapter 6 are deemed acquired in year of Section 10 notice. Accused bound to declare foreign assets u/s 59. Court granted anticipatory bail on Rs. 5 lakh bond with conditions of cooperating with IT Dept, not inducing witnesses, not leaving India without permission, surrendering passport, and not committing similar offence.
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TaxTMI 
TaxTMI 
of 4918 
