Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Unexplained money u/s 69A applies even if books of account are not required to be maintained. Assessee failed to establish funds were duly reported and tax paid by husband. Addition u/s 56(2)(x)(b)(B) upheld as stamp duty paid exceeded thresholds, despite notice citing incorrect provision. Stamp duty leviable on market value, not guideline value. HC permitted assessee to file additional documents regarding source of funds, directed fresh order on 69A addition after providing opportunity of hearing. No interference on 56(2) addition. Costs imposed for non-cooperation.
Unexplained money u/s 69A applies even if books of account are not required to be maintained. Assessee failed to establish funds were duly reported and tax paid by husband. Addition u/s 56(2)(x)(b)(B) upheld as stamp duty paid exceeded thresholds, despite notice citing incorrect provision. Stamp duty leviable on market value, not guideline value. HC permitted assessee to file additional documents regarding source of funds, directed fresh order on 69A addition after providing opportunity of hearing. No interference on 56(2) addition. Costs imposed for non-cooperation.
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