Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Cash payments exceeding Rs. 20,000 were made, and the assessee provided a statement on oath, affidavits from the vendor, and explanations about the vendor's father's ill health and jail term, as well as the precondition of cash payment for the land deal. The appellate authority erred in rejecting these submissions and not considering business expediency. Regarding development expenses, the assessing officer disallowed 10% due to lack of vouchers, which was reduced to 5% by the appellate authority. Since no further evidence was produced, the Appellate Tribunal declined to interfere with the appellate authority's order on this issue.
Cash payments exceeding Rs. 20,000 were made, and the assessee provided a statement on oath, affidavits from the vendor, and explanations about the vendor's father's ill health and jail term, as well as the precondition of cash payment for the land deal. The appellate authority erred in rejecting these submissions and not considering business expediency. Regarding development expenses, the assessing officer disallowed 10% due to lack of vouchers, which was reduced to 5% by the appellate authority. Since no further evidence was produced, the Appellate Tribunal declined to interfere with the appellate authority's order on this issue.
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