Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Validity of reassessment under section 147 turned on whether the AO acted on tangible information and applied independent mind rather than on borrowed satisfaction; the Tribunal held that specific information about substantial cash capital introduction, considered against low returned income and material on record, satisfied the prima facie belief threshold required for reopening. The Tribunal further upheld treating the cash capital introduction as unexplained investment under section 69, placing onus on the assessee to prove the source. Conclusion: reassessment initiation and the addition under section 69 were sustained and the appeal was dismissed by ITAT.
Validity of reassessment under section 147 turned on whether the AO acted on tangible information and applied independent mind rather than on borrowed satisfaction; the Tribunal held that specific information about substantial cash capital introduction, considered against low returned income and material on record, satisfied the prima facie belief threshold required for reopening. The Tribunal further upheld treating the cash capital introduction as unexplained investment under section 69, placing onus on the assessee to prove the source. Conclusion: reassessment initiation and the addition under section 69 were sustained and the appeal was dismissed by ITAT.
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