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...
The HC affirms that an appeal under s.249(4)(a) to the CIT(A) is statutorily conditional upon payment/deposit of admitted tax; the statutory requirement admits no judicially implied exception or waiver. In proceedings under the block assessment provision s.158BC, the Court holds the CIT(A) lacks jurisdiction to entertain appeals where the pre-condition of payment of admitted tax remains unsatisfied, even if the legality of the admitted return is contested. The Tribunal's conclusion that the appellant's CIT(A) appeal was not maintainable for non-payment of admitted tax is sustained. The appeal is dismissed and the substantial questions of law are answered against the appellant.
The HC affirms that an appeal under s.249(4)(a) to the CIT(A) is statutorily conditional upon payment/deposit of admitted tax; the statutory requirement admits no judicially implied exception or waiver. In proceedings under the block assessment provision s.158BC, the Court holds the CIT(A) lacks jurisdiction to entertain appeals where the pre-condition of payment of admitted tax remains unsatisfied, even if the legality of the admitted return is contested. The Tribunal's conclusion that the appellant's CIT(A) appeal was not maintainable for non-payment of admitted tax is sustained. The appeal is dismissed and the substantial questions of law are answered against the appellant.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
