Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
HC allowed the assessee's appeal, finding the tax authority's assessment invalid. The court ruled that a statement recorded during a search under Section 132(4) cannot be the sole basis for income addition in block assessment. Section 158BC mandates that undisclosed income additions must be supported by incriminating materials discovered during the search. Furthermore, the court held that surcharge under Section 113 applies only to searches conducted after 01.06.2002, following precedent in Vatika Township case, thus deciding in favor of the assessee.
HC allowed the assessee's appeal, finding the tax authority's assessment invalid. The court ruled that a statement recorded during a search under Section 132(4) cannot be the sole basis for income addition in block assessment. Section 158BC mandates that undisclosed income additions must be supported by incriminating materials discovered during the search. Furthermore, the court held that surcharge under Section 113 applies only to searches conducted after 01.06.2002, following precedent in Vatika Township case, thus deciding in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
