Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Computation of the block period for assessment under search-assessment provisions was determined by the date the non-searched assessee received seized documents or, where handing-over date is unavailable, by the date of issuance of the AOs satisfaction note; consequently the relevant block period placed AY 2015-16 in the 9th year. The statutory monetary threshold for issuing notices beyond the six-year block requires escaped income represented by assets of Rs.50 lakhs or more; since AOs quantified escaped income was Rs.8,84,540 (below the threshold), the extended-year notice was invalid and appellate relief for the assessee was affirmed.
Computation of the block period for assessment under search-assessment provisions was determined by the date the non-searched assessee received seized documents or, where handing-over date is unavailable, by the date of issuance of the AOs satisfaction note; consequently the relevant block period placed AY 2015-16 in the 9th year. The statutory monetary threshold for issuing notices beyond the six-year block requires escaped income represented by assets of Rs.50 lakhs or more; since AOs quantified escaped income was Rs.8,84,540 (below the threshold), the extended-year notice was invalid and appellate relief for the assessee was affirmed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
