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...
Liability of directors for a company tax debt is contingent on a recorded finding that tax dues cannot be recovered from the company; absent such a finding, proceedings against directors under the statutory provision are impermissible, and the impugned order is set aside on that sole ground. The note clarifies that if, during recovery, the precondition of non-recoverability is subsequently established, invocation of the statutory power against directors remains available but must be exercised strictly in accordance with law and upon satisfaction of the prescribed precondition.
Liability of directors for a company tax debt is contingent on a recorded finding that tax dues cannot be recovered from the company; absent such a finding, proceedings against directors under the statutory provision are impermissible, and the impugned order is set aside on that sole ground. The note clarifies that if, during recovery, the precondition of non-recoverability is subsequently established, invocation of the statutory power against directors remains available but must be exercised strictly in accordance with law and upon satisfaction of the prescribed precondition.
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