NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The note addresses whether documents seized from a person other than the assessee fall within the phrase 'found in the course of search' and thus may support assessment under section 153A; it records that such material (seized from an employee covered by the same search) is within that scope, but stresses that for an unabated assessment additions under 153A require incriminating material unearthed by the search. The seized document was held non incriminating, and therefore the 153A assessment based on it is invalid; a late challenge to approval and introduction of fresh appellate grounds was rejected for want of record support.
The note addresses whether documents seized from a person other than the assessee fall within the phrase 'found in the course of search' and thus may support assessment under section 153A; it records that such material (seized from an employee covered by the same search) is within that scope, but stresses that for an unabated assessment additions under 153A require incriminating material unearthed by the search. The seized document was held non incriminating, and therefore the 153A assessment based on it is invalid; a late challenge to approval and introduction of fresh appellate grounds was rejected for want of record support.
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