Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
Page of 4803
Press 'Enter' after typing page number.
1421 to 1440 of 96047 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The Income Tax Appellate Tribunal held that the Assessing Officer had rightly formed a 'reason to believe' and not merely a 'reason to suspect' regarding escapement of income based on the assessee's investment in property being disproportionate to their disclosed income. The approval u/s 151(2) for reopening assessment was properly granted after due application of mind by the Principal Commissioner. However, the Tribunal directed deletion of the addition made u/s 69 regarding unexplained investment, as the assessee had duly explained their share of the investment, while leaving the issue of unsecured loan and jewellery amount received by the assessee's wife to be examined separately.
The Income Tax Appellate Tribunal held that the Assessing Officer had rightly formed a 'reason to believe' and not merely a 'reason to suspect' regarding escapement of income based on the assessee's investment in property being disproportionate to their disclosed income. The approval u/s 151(2) for reopening assessment was properly granted after due application of mind by the Principal Commissioner. However, the Tribunal directed deletion of the addition made u/s 69 regarding unexplained investment, as the assessee had duly explained their share of the investment, while leaving the issue of unsecured loan and jewellery amount received by the assessee's wife to be examined separately.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
