Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
Annuloplasty band classification as implanted therapeutic appliance, not anatomical replacement, resulting in classification under tariff heading for ...
Whether incriminating material seized in search sustains additions under section 153A - tribunal, following Benefit Tradelink, finds the issue against the assessee and dismisses the ground challenging additions. Addition as income under section 56(2)(vi) for amounts received as student fees - since receipts were offered to tax before the Settlement Commission and constituted student fees, section 56(2)(vi) is not attracted and no addition is warranted. Unexplained investment in property - pro rata contribution recomputed and limited to Rs.1,42,000, ground partly allowed. Purchase of specified land - amounts already offered before the Settlement Commission; no further addition. Stamp duty/registration expenses paid by relatives and not offered earlier - Revenue free to tax those amounts. - ITAT
Whether incriminating material seized in search sustains additions under section 153A - tribunal, following Benefit Tradelink, finds the issue against the assessee and dismisses the ground challenging additions. Addition as income under section 56(2)(vi) for amounts received as student fees - since receipts were offered to tax before the Settlement Commission and constituted student fees, section 56(2)(vi) is not attracted and no addition is warranted. Unexplained investment in property - pro rata contribution recomputed and limited to Rs.1,42,000, ground partly allowed. Purchase of specified land - amounts already offered before the Settlement Commission; no further addition. Stamp duty/registration expenses paid by relatives and not offered earlier - Revenue free to tax those amounts. - ITAT
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