Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
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...
Declaration under the Income Declaration Scheme was held void for failure to pay tax, surcharge and penalty within the statutory time, rendering the declaration deemed never made and making the undeclared amount chargeable in the previous year (FY 2016-17) under the deeming provision; because the assessee failed to satisfactorily explain the source, the AO's addition as unexplained investment was upheld. The amended higher tax rate was held non-retrospective, so tax on the addition must be computed at the earlier 30% rate rather than the later 60% rate, resulting in a partly allowed outcome.
Declaration under the Income Declaration Scheme was held void for failure to pay tax, surcharge and penalty within the statutory time, rendering the declaration deemed never made and making the undeclared amount chargeable in the previous year (FY 2016-17) under the deeming provision; because the assessee failed to satisfactorily explain the source, the AO's addition as unexplained investment was upheld. The amended higher tax rate was held non-retrospective, so tax on the addition must be computed at the earlier 30% rate rather than the later 60% rate, resulting in a partly allowed outcome.
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