Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Failure to produce supporting documents before audit team does not constitute suppression of facts to invoke extended period of limitation u/s 73(1) of Finance Act, 1994. No allegation of statutory contravention with intent to evade tax against assessee. Not producing documents necessary for substantiating claim does not fall under exception of "suppression of facts". No express allegations made in show cause notice regarding suppression of facts. High Court concurred with CESTAT that extended period not correctly invoked as intent to evade tax neither established nor evident. No infirmity in CESTAT's decision rejecting Revenue's contention of invoking extended period under proviso to Section 73(1).
Failure to produce supporting documents before audit team does not constitute suppression of facts to invoke extended period of limitation u/s 73(1) of Finance Act, 1994. No allegation of statutory contravention with intent to evade tax against assessee. Not producing documents necessary for substantiating claim does not fall under exception of "suppression of facts". No express allegations made in show cause notice regarding suppression of facts. High Court concurred with CESTAT that extended period not correctly invoked as intent to evade tax neither established nor evident. No infirmity in CESTAT's decision rejecting Revenue's contention of invoking extended period under proviso to Section 73(1).
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