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 dominant issue was whether the adjudicating authority could decide an interlocutory application on merits despite a pre-pronouncement request to withdraw it. The tribunal accepted the counsel's affidavit and subsequent praecipe as credible evidence that withdrawal was sought, and held that the reliefs originally claimed were in any event overly wide and general. Consequently, deciding the application on merits despite the withdrawal request was unjustified; the impugned order dismissing the application was set aside, with liberty to file a fresh interlocutory application seeking appropriately framed reliefs for consideration in accordance with law, and the appeal was disposed of - NCLAT
The dominant issue was whether the adjudicating authority could decide an interlocutory application on merits despite a pre-pronouncement request to withdraw it. The tribunal accepted the counsel's affidavit and subsequent praecipe as credible evidence that withdrawal was sought, and held that the reliefs originally claimed were in any event overly wide and general. Consequently, deciding the application on merits despite the withdrawal request was unjustified; the impugned order dismissing the application was set aside, with liberty to file a fresh interlocutory application seeking appropriately framed reliefs for consideration in accordance with law, and the appeal was disposed of - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
