Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
ITAT held that the assessee duly disclosed share holdings in a Hong Kong company during AY 2007-08, which was confirmed by prosecution and session courts. The tribunal noted no evidence of undisclosed investments or cash transactions despite a search. The appellate authority's order deleting additional income was affirmed, finding no procedural or substantive irregularities in the assessee's tax disclosures. The tribunal rejected revenue's contentions, emphasizing factual compliance with tax reporting requirements and absence of material evidence supporting undisclosed income claims.
ITAT held that the assessee duly disclosed share holdings in a Hong Kong company during AY 2007-08, which was confirmed by prosecution and session courts. The tribunal noted no evidence of undisclosed investments or cash transactions despite a search. The appellate authority's order deleting additional income was affirmed, finding no procedural or substantive irregularities in the assessee's tax disclosures. The tribunal rejected revenue's contentions, emphasizing factual compliance with tax reporting requirements and absence of material evidence supporting undisclosed income claims.
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