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...
Assessee purchased credit cards using unexplained cash payments. AO made addition u/s 69A as assessee failed to explain source of cash. CIT(A) confirmed addition since no evidence was filed by assessee. ITAT upheld CIT(A)'s order applying s.69A deeming unexplained cash as income, deciding against assessee for non-compliance with statutory notices and not substantiating cash source.
Assessee purchased credit cards using unexplained cash payments. AO made addition u/s 69A as assessee failed to explain source of cash. CIT(A) confirmed addition since no evidence was filed by assessee. ITAT upheld CIT(A)'s order applying s.69A deeming unexplained cash as income, deciding against assessee for non-compliance with statutory notices and not substantiating cash source.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
