Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Appellate Tribunal set aside Adjudicating Authority's order rejecting Section 9 application as defective without issuing notice to rectify defects within seven days as mandated by proviso to Section 9(ii). Principles of natural justice violated by not providing opportunity of hearing before rejection. Tribunal relied on precedent holding Adjudicating Authority must allow rectification of defects before rejecting application. Section 9 application revived, appeal disposed of.
Appellate Tribunal set aside Adjudicating Authority's order rejecting Section 9 application as defective without issuing notice to rectify defects within seven days as mandated by proviso to Section 9(ii). Principles of natural justice violated by not providing opportunity of hearing before rejection. Tribunal relied on precedent holding Adjudicating Authority must allow rectification of defects before rejecting application. Section 9 application revived, appeal disposed of.
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