Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
PCIT invoked section 263 against order of AO accepting valuation report of merchant banker determining share value at premium. ITAT held that AO failed to make proper enquiry and record reasons for accepting valuation report, especially when similar report was rejected in preceding year for assessee. AO passing order without proper enquiry and reasons on substantial issue like share valuation made order erroneous and amenable to revision u/s 263. Decided against assessee.
PCIT invoked section 263 against order of AO accepting valuation report of merchant banker determining share value at premium. ITAT held that AO failed to make proper enquiry and record reasons for accepting valuation report, especially when similar report was rejected in preceding year for assessee. AO passing order without proper enquiry and reasons on substantial issue like share valuation made order erroneous and amenable to revision u/s 263. Decided against assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
