PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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Addition under Section 68 alleging unexplained share capital and share premium was contested on grounds of identity, creditworthiness and genuineness of subscribers; court accepted traceability via bank records and Section 133(6) responses, finding subscribers to be taxpayers and creditworthy, and therefore rejected characterization as phantom investors. The prospective proviso to Section 68 (Finance Act, 2012) was held inapplicable for the relevant assessment year, so the "source of source" and "origin of origin" doctrines were not applied. Allegations of money laundering or roundtripping lacked specific corroborative evidence showing a live link to the assessee; Tribunal findings for the assessee were upheld.
Addition under Section 68 alleging unexplained share capital and share premium was contested on grounds of identity, creditworthiness and genuineness of subscribers; court accepted traceability via bank records and Section 133(6) responses, finding subscribers to be taxpayers and creditworthy, and therefore rejected characterization as phantom investors. The prospective proviso to Section 68 (Finance Act, 2012) was held inapplicable for the relevant assessment year, so the "source of source" and "origin of origin" doctrines were not applied. Allegations of money laundering or roundtripping lacked specific corroborative evidence showing a live link to the assessee; Tribunal findings for the assessee were upheld.
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