Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
Annuloplasty band classification as implanted therapeutic appliance, not anatomical replacement, resulting in classification under tariff heading for ...
De-notification of Customs Area and termination of Container Freight Station custodian and Customs Cargo Service Provider authority effective 07-01-20...
The article addresses the burden to prove genuineness of share transactions claimed as exempt LTCG under 10(38), holding that documentary records (contract notes, demat statements, bank payment/receipt evidence and exchange trades) can discharge the onus and defeat additions. It states that reliance on investigation reports, prima facie anomalies in company accounts, or extraordinary price movement, without material linking the taxpayer to price manipulation, recycling of funds or accommodation entries, is insufficient to treat exempt gains as unexplained income; therefore the exemption should be accepted absent direct nexus or corroborative inquiry.
The article addresses the burden to prove genuineness of share transactions claimed as exempt LTCG under 10(38), holding that documentary records (contract notes, demat statements, bank payment/receipt evidence and exchange trades) can discharge the onus and defeat additions. It states that reliance on investigation reports, prima facie anomalies in company accounts, or extraordinary price movement, without material linking the taxpayer to price manipulation, recycling of funds or accommodation entries, is insufficient to treat exempt gains as unexplained income; therefore the exemption should be accepted absent direct nexus or corroborative inquiry.
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