Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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HC held that Form 26AS with apparent errors cannot constitute tangible material for reopening assessment. The assessment order was invalid as duplicate entries in Form 26AS showed only a minimal discrepancy of Rs. 1,926/- in salary income. The revenue's argument regarding extended limitation period was rejected. The AO lacked sufficient grounds to believe income had escaped assessment. Appellate authorities CIT(A) and ITAT concurred that the reassessment was unsustainable. The court ultimately decided in favor of the assessee, nullifying the reassessment proceedings due to lack of substantive evidence of income escapement.
HC held that Form 26AS with apparent errors cannot constitute tangible material for reopening assessment. The assessment order was invalid as duplicate entries in Form 26AS showed only a minimal discrepancy of Rs. 1,926/- in salary income. The revenue's argument regarding extended limitation period was rejected. The AO lacked sufficient grounds to believe income had escaped assessment. Appellate authorities CIT(A) and ITAT concurred that the reassessment was unsustainable. The court ultimately decided in favor of the assessee, nullifying the reassessment proceedings due to lack of substantive evidence of income escapement.
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