Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Page of 4821
Press 'Enter' after typing page number.
6321 to 6340 of 96406 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reopening under s.147/s.148 for a post-search unabated year was upheld, as issuance of notice does not require incriminating material found with the assessee and the existence of material warranting additions is to be examined during reassessment proceedings; objections that additions were based on third-party search material were rejected. Additions founded on information gathered behind the assessee's back without confronting the material or allowing cross-examination were held to violate s.142(2)/(3) and were unsustainable. Estimated addition for alleged bogus purchases based solely on a GST report, without independent enquiry despite documentary purchase evidence, was deleted. Additions u/s 69D/69C for alleged cash loans based on unreliable third-party loose papers and conjecture were quashed. - ITAT
Reopening under s.147/s.148 for a post-search unabated year was upheld, as issuance of notice does not require incriminating material found with the assessee and the existence of material warranting additions is to be examined during reassessment proceedings; objections that additions were based on third-party search material were rejected. Additions founded on information gathered behind the assessee's back without confronting the material or allowing cross-examination were held to violate s.142(2)/(3) and were unsustainable. Estimated addition for alleged bogus purchases based solely on a GST report, without independent enquiry despite documentary purchase evidence, was deleted. Additions u/s 69D/69C for alleged cash loans based on unreliable third-party loose papers and conjecture were quashed. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
