Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Reopening of assessment was upheld where the assessing officer formed a prima facie belief of income escapement after examining return and investigation material; sufficiency of reasons requires relevant material and a rational connection and need not be a prior detailed inquiry. Payments made to an accommodation/entry provider were treated as unexplained expenditure taxable in the year of payment under the unexplained money regime rather than purchases of earlier years. The omission to cite the specific statutory provision in the assessment order was held immaterial where the assessee was repeatedly informed of the nature and tax consequences of the payment.
Reopening of assessment was upheld where the assessing officer formed a prima facie belief of income escapement after examining return and investigation material; sufficiency of reasons requires relevant material and a rational connection and need not be a prior detailed inquiry. Payments made to an accommodation/entry provider were treated as unexplained expenditure taxable in the year of payment under the unexplained money regime rather than purchases of earlier years. The omission to cite the specific statutory provision in the assessment order was held immaterial where the assessee was repeatedly informed of the nature and tax consequences of the payment.
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