Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Delhi Sess. J. remanded a Deputy Commissioner of Income Tax and a CA to 3-day CBI custody for allegedly sabotaging the faceless assessment scheme. The accused were arrested following an FIR alleging conspiracy to manipulate high-value tax assessment cases by soliciting bribes in exchange for favorable orders. The CBI sought custodial interrogation to unearth the broader conspiracy, despite defense arguments challenging the necessity of arrest. The court granted 3-day custody to facilitate further investigation into potential systemic corruption within the income tax assessment process.
Delhi Sess. J. remanded a Deputy Commissioner of Income Tax and a CA to 3-day CBI custody for allegedly sabotaging the faceless assessment scheme. The accused were arrested following an FIR alleging conspiracy to manipulate high-value tax assessment cases by soliciting bribes in exchange for favorable orders. The CBI sought custodial interrogation to unearth the broader conspiracy, despite defense arguments challenging the necessity of arrest. The court granted 3-day custody to facilitate further investigation into potential systemic corruption within the income tax assessment process.
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