Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Deemed income assessment under section 69A was sustained where the AO established that the assessee had introduced and facilitated opening of 9,165 bank accounts and withdrawals from those accounts; the onus rested on the assessee to prove the nature and source of the unexplained amounts and it failed to do so. The Tribunal held ownership of withdrawn amounts as an indicium of income and rejected the CIT(A)'s finding that the assessee was merely a facilitator and not responsible for irregular accounts, thereby confirming additions for the assessment year.
Deemed income assessment under section 69A was sustained where the AO established that the assessee had introduced and facilitated opening of 9,165 bank accounts and withdrawals from those accounts; the onus rested on the assessee to prove the nature and source of the unexplained amounts and it failed to do so. The Tribunal held ownership of withdrawn amounts as an indicium of income and rejected the CIT(A)'s finding that the assessee was merely a facilitator and not responsible for irregular accounts, thereby confirming additions for the assessment year.
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