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...
Reopening of assessment was upheld where impounded loose papers and a purchaser's admission provided prima facie material of undisclosed cash consideration, corroborated by matching cheque entries and registered sale deeds; failure of the assessee to specifically seek cross examination at reassessment foreclosed a later natural justice challenge. The impounded documents were treated as reliable corroborative evidence rather than vague papers, and the existence of substantial disparity between recorded and apparent market value reinforced inference of on money. On these grounds the assessing officer's addition as unaccounted sale consideration was held justified and the claim against reassessment failed.
Reopening of assessment was upheld where impounded loose papers and a purchaser's admission provided prima facie material of undisclosed cash consideration, corroborated by matching cheque entries and registered sale deeds; failure of the assessee to specifically seek cross examination at reassessment foreclosed a later natural justice challenge. The impounded documents were treated as reliable corroborative evidence rather than vague papers, and the existence of substantial disparity between recorded and apparent market value reinforced inference of on money. On these grounds the assessing officer's addition as unaccounted sale consideration was held justified and the claim against reassessment failed.
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