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...
ITAT quashed reassessment proceedings initiated u/s 148 against assessee. There was a difference between reasons communicated in notice u/s 148A(b) alleging bogus transactions of Rs. 50 lakh and subsequent order u/s 148A(d) making addition of Rs. 9.68 crore for purchases from non-filers. ITAT held initiation of proceedings itself was flawed as issues in 148A(b) notice were not carried into 148A(d) order. Following Banyan Real Estate Fund Mauritius, ITAT allowed assessee's appeal quashing reassessment notices and order.
ITAT quashed reassessment proceedings initiated u/s 148 against assessee. There was a difference between reasons communicated in notice u/s 148A(b) alleging bogus transactions of Rs. 50 lakh and subsequent order u/s 148A(d) making addition of Rs. 9.68 crore for purchases from non-filers. ITAT held initiation of proceedings itself was flawed as issues in 148A(b) notice were not carried into 148A(d) order. Following Banyan Real Estate Fund Mauritius, ITAT allowed assessee's appeal quashing reassessment notices and order.
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