Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Profiteering in construction services for failure to pass input tax credit resulted in repayment exceeding the commensurate benefit and closure of pro...
Reopening of assessment concerned unexplained payment and alleged difference between stamp duty value and consideration under valuation provisions; appellate note records that the assessee, a non-resident, failed to substantiate a Rs.7,00,000 payment and was not questioned on the valuation difference. The appellate authority found the first appellate order disposed for nonprosecution without merits and the assessing officer did not verify payment dates or bank records. The tribunal directed restoration to the assessing officer for a fresh opportunity to the assessee to substantiate source of funds and to explain the stamp duty versus registration value (difference found less than 10%). Appeal allowed for statistical purposes.
Reopening of assessment concerned unexplained payment and alleged difference between stamp duty value and consideration under valuation provisions; appellate note records that the assessee, a non-resident, failed to substantiate a Rs.7,00,000 payment and was not questioned on the valuation difference. The appellate authority found the first appellate order disposed for nonprosecution without merits and the assessing officer did not verify payment dates or bank records. The tribunal directed restoration to the assessing officer for a fresh opportunity to the assessee to substantiate source of funds and to explain the stamp duty versus registration value (difference found less than 10%). Appeal allowed for statistical purposes.
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