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...
The appellant failed to prove the legitimate source for acquisition of the subject property, and the Appellate Tribunal upheld the Provisional Attachment Order treating the amount as proceeds of crime derived from NRHM funds. The prosecution complaint was filed within the prescribed time limit. At this interim stage, the attachment of properties continues till the final disposal of the prosecution case. The appeal regarding seizure of Rs. 9.50 lakh, treated as proceeds of crime, was also dismissed as the appellant could not provide authentic evidence for the cash transactions.
The appellant failed to prove the legitimate source for acquisition of the subject property, and the Appellate Tribunal upheld the Provisional Attachment Order treating the amount as proceeds of crime derived from NRHM funds. The prosecution complaint was filed within the prescribed time limit. At this interim stage, the attachment of properties continues till the final disposal of the prosecution case. The appeal regarding seizure of Rs. 9.50 lakh, treated as proceeds of crime, was also dismissed as the appellant could not provide authentic evidence for the cash transactions.
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TaxTMI 
TaxTMI 
of 4918 
