Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Proceedings initiated against a deceased assessee after their death cannot be continued against their legal representatives under Section 159. The court reaffirmed that only proceedings commenced during the lifetime of the assessee may be pursued against their legal representatives. Since the proceedings in this case were initiated posthumously, continuation against the legal representatives is impermissible. Consequently, the High Court upheld the Single Judge's order quashing the impugned proceedings. The proceedings against the deceased are therefore set aside.
Proceedings initiated against a deceased assessee after their death cannot be continued against their legal representatives under Section 159. The court reaffirmed that only proceedings commenced during the lifetime of the assessee may be pursued against their legal representatives. Since the proceedings in this case were initiated posthumously, continuation against the legal representatives is impermissible. Consequently, the High Court upheld the Single Judge's order quashing the impugned proceedings. The proceedings against the deceased are therefore set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
