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...
Exemption scheme or policy cannot be applied retrospectively. Petitioner purchased a hybrid vehicle and paid applicable tax before the exemption policy was introduced. Although vehicle was registered after policy date, tax payment occurred earlier. Supreme Court precedent mandates strict interpretation of exemption notification eligibility criteria. Petitioner ineligible for tax refund under the exemption policy since tax was paid prior to policy introduction. High Court dismissed petition seeking refund direction as no case was made out.
Exemption scheme or policy cannot be applied retrospectively. Petitioner purchased a hybrid vehicle and paid applicable tax before the exemption policy was introduced. Although vehicle was registered after policy date, tax payment occurred earlier. Supreme Court precedent mandates strict interpretation of exemption notification eligibility criteria. Petitioner ineligible for tax refund under the exemption policy since tax was paid prior to policy introduction. High Court dismissed petition seeking refund direction as no case was made out.
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