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...
Failure to refer stay petitions to the administrative Principal Commissioner/Commissioner under the CBDT Office Memorandum vitiated the assessing officer's stay rejection; the matter is remitted for the Principal Commissioner/Commissioner to determine the quantum or proportion of disputed demand payable for grant of stay in accordance with the guideline. The Department retains entitlement to recover assessed demand pending disposal of appeals subject to any statutory stay, the legal basis for recovery affirmed. In view of prior partial liquidation distributions, petitioners are permitted to operate previously attached bank accounts pending fresh administrative orders to be issued within the stipulated timeframe.
Failure to refer stay petitions to the administrative Principal Commissioner/Commissioner under the CBDT Office Memorandum vitiated the assessing officer's stay rejection; the matter is remitted for the Principal Commissioner/Commissioner to determine the quantum or proportion of disputed demand payable for grant of stay in accordance with the guideline. The Department retains entitlement to recover assessed demand pending disposal of appeals subject to any statutory stay, the legal basis for recovery affirmed. In view of prior partial liquidation distributions, petitioners are permitted to operate previously attached bank accounts pending fresh administrative orders to be issued within the stipulated timeframe.
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