Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
ITAT adjudicated a tax dispute involving undisclosed income and stock valuation. The tribunal rejected the tax authority's attempt to treat stock purchases as undisclosed income under Section 69C. The stocks were found to be properly purchased and accounted for in business records. Regarding Section 115BBE's applicability, the tribunal followed precedent from Madras HC, determining that the amended provisions did not apply to the survey conducted on 29-09-2016. Consequently, the tribunal ruled in favor of the assessee, quashing the revision order by the PCIT and dismissing attempts to impose additional tax on the identified stocks.
ITAT adjudicated a tax dispute involving undisclosed income and stock valuation. The tribunal rejected the tax authority's attempt to treat stock purchases as undisclosed income under Section 69C. The stocks were found to be properly purchased and accounted for in business records. Regarding Section 115BBE's applicability, the tribunal followed precedent from Madras HC, determining that the amended provisions did not apply to the survey conducted on 29-09-2016. Consequently, the tribunal ruled in favor of the assessee, quashing the revision order by the PCIT and dismissing attempts to impose additional tax on the identified stocks.
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