Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
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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