Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
HC adjudicated reassessment proceedings challenging tax notice under Section 148, determining that conditions in Section 149(1A) were not satisfied. The court interpreted the statutory threshold of Rs. 50 lakhs escaped income, clarifying that cumulative income from multiple assessment years can be considered, but must be represented through a specific asset or expenditure related to a singular event or occasion. The court ultimately allowed the petition and set aside the reassessment proceedings, emphasizing strict compliance with procedural limitations in tax reassessment mechanisms.
HC adjudicated reassessment proceedings challenging tax notice under Section 148, determining that conditions in Section 149(1A) were not satisfied. The court interpreted the statutory threshold of Rs. 50 lakhs escaped income, clarifying that cumulative income from multiple assessment years can be considered, but must be represented through a specific asset or expenditure related to a singular event or occasion. The court ultimately allowed the petition and set aside the reassessment proceedings, emphasizing strict compliance with procedural limitations in tax reassessment mechanisms.
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TaxTMI 
TaxTMI 
