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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Section 50C's multiplicative rate applicability was challenged. The Income Tax Appellate Tribunal affirmed the Commissioner's order applying a factor of "1" to the property sold by the assessee. However, the Tribunal failed to provide reasoning, even rudimentary, for affirming the Commissioner's findings. Consequently, the High Court allowed the appeal, set aside the Tribunal's order, and remanded the matter for fresh adjudication by the Tribunal, leaving all questions open for consideration.
Section 50C's multiplicative rate applicability was challenged. The Income Tax Appellate Tribunal affirmed the Commissioner's order applying a factor of "1" to the property sold by the assessee. However, the Tribunal failed to provide reasoning, even rudimentary, for affirming the Commissioner's findings. Consequently, the High Court allowed the appeal, set aside the Tribunal's order, and remanded the matter for fresh adjudication by the Tribunal, leaving all questions open for consideration.
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