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...
HC allowed appeal against trial court's decision invalidating a gift deed and granting permanent injunction. While trial court focused solely on fraud allegation without conclusively establishing it, HC found the gift deed valid based on intrinsic evidence showing donor's clear intention and explanation for the transfer. Though Clause II(6) of lease deed required written consent for property transfer, its violation would only affect lease renewal, not invalidate the transfer itself. Donor's explicit statement of love and affection for donee (daughter-in-law), coupled with confirmation by other family members, established deed's validity. Trial court's judgment declaring gift deed void and granting injunction was set aside, and original suit dismissed without costs.
HC allowed appeal against trial court's decision invalidating a gift deed and granting permanent injunction. While trial court focused solely on fraud allegation without conclusively establishing it, HC found the gift deed valid based on intrinsic evidence showing donor's clear intention and explanation for the transfer. Though Clause II(6) of lease deed required written consent for property transfer, its violation would only affect lease renewal, not invalidate the transfer itself. Donor's explicit statement of love and affection for donee (daughter-in-law), coupled with confirmation by other family members, established deed's validity. Trial court's judgment declaring gift deed void and granting injunction was set aside, and original suit dismissed without costs.
Note: It is a system-generated summary and is for quick reference only.