Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
Alternative statutory remedy and delay bar GST writ challenges despite pending rectification, while distinct subject matter permits parallel proceedin...
Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
The AT upheld the findings of benami transactions against the appellant and dismissed the appeal. It held that substantial cash deposits in a dummy bank account of a benamidar firm, with no genuine business activity and no supporting sale agreement or documented transaction, established that the appellant was the beneficial owner of the funds. The appellant's plea of ignorance, alleging that her husband operated the bank account, was rejected as legally untenable. The AT further held that subsequent reassessment or surrender of amounts as undisclosed income under s.148 of the Income-tax Act, 1961, could not retrospectively nullify or regularize the earlier benami transactions under the Prohibition of Benami Property Transactions Act, 1988.
The AT upheld the findings of benami transactions against the appellant and dismissed the appeal. It held that substantial cash deposits in a dummy bank account of a benamidar firm, with no genuine business activity and no supporting sale agreement or documented transaction, established that the appellant was the beneficial owner of the funds. The appellant's plea of ignorance, alleging that her husband operated the bank account, was rejected as legally untenable. The AT further held that subsequent reassessment or surrender of amounts as undisclosed income under s.148 of the Income-tax Act, 1961, could not retrospectively nullify or regularize the earlier benami transactions under the Prohibition of Benami Property Transactions Act, 1988.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
