Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
ITAT affirmed CIT(A)'s order, rejecting revenue's appeal. The tribunal upheld the lower authority's findings on multiple legal issues: (1) assessee qualified for long-term capital gains tax exemption under Section 54F by owning only one residential house at share transfer date, (2) sale proceeds of gifted shares from son were not unexplained cash credit under Section 68, and (3) unsecured loans from family members with proper documentation were not assessable as unexplained income. The tribunal found no merit in revenue's contentions and dismissed the appeal, maintaining the original order that deleted additions made by the Assessing Officer.
ITAT affirmed CIT(A)'s order, rejecting revenue's appeal. The tribunal upheld the lower authority's findings on multiple legal issues: (1) assessee qualified for long-term capital gains tax exemption under Section 54F by owning only one residential house at share transfer date, (2) sale proceeds of gifted shares from son were not unexplained cash credit under Section 68, and (3) unsecured loans from family members with proper documentation were not assessable as unexplained income. The tribunal found no merit in revenue's contentions and dismissed the appeal, maintaining the original order that deleted additions made by the Assessing Officer.
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