PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
The ITAT set aside orders passed by CIT(A) and ACIT under s.154, holding that additions to the assessee's income based solely on admissions made in an application to the Settlement Commission were improper. The Tribunal affirmed that confidential information submitted before the Settlement Commission cannot form the basis for additions in assessment proceedings without independent incriminating material discovered during search and seizure operations. Since the Settlement Commission application was deemed non-maintainable under s.245C(1) and not adjudicated on merits, and the ACIT failed to reference any incriminating material when making the additions, the Tribunal determined the assessment orders were legally unsustainable.
The ITAT set aside orders passed by CIT(A) and ACIT under s.154, holding that additions to the assessee's income based solely on admissions made in an application to the Settlement Commission were improper. The Tribunal affirmed that confidential information submitted before the Settlement Commission cannot form the basis for additions in assessment proceedings without independent incriminating material discovered during search and seizure operations. Since the Settlement Commission application was deemed non-maintainable under s.245C(1) and not adjudicated on merits, and the ACIT failed to reference any incriminating material when making the additions, the Tribunal determined the assessment orders were legally unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
