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...
The ITAT held that the assessment for AY 2008-09 initiated u/s 153A was beyond the 10-year limitation period prescribed, rendering the assessment order invalid. However, regarding the addition of share capital and share premium u/s 153A, the ITAT upheld the CIT(A)'s finding of incriminating material, validating the assessment order, relying on the Goldstone Cements Ltd. case. The appeals were partly allowed and partly dismissed.
The ITAT held that the assessment for AY 2008-09 initiated u/s 153A was beyond the 10-year limitation period prescribed, rendering the assessment order invalid. However, regarding the addition of share capital and share premium u/s 153A, the ITAT upheld the CIT(A)'s finding of incriminating material, validating the assessment order, relying on the Goldstone Cements Ltd. case. The appeals were partly allowed and partly dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
