Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Reopening of assessment beyond four years failed because the recorded reasons did not show any omission by the assessee to disclose fully and truly all material facts, and relied only on material already on record; the reassessment notice and proceedings for A.Y. 2011-12 were therefore invalid. On merits, the addition under section 68 for share capital and share premium was deleted because the assessee produced evidence of investor identity, creditworthiness and transaction genuineness, including banking and corporate records. The Tribunal also noted that the pre-2013 position did not require proof of source of source, and that premium-related doubts, section 56(2)(viib), and the later amendment to section 68 did not justify the addition on the facts stated.
Reopening of assessment beyond four years failed because the recorded reasons did not show any omission by the assessee to disclose fully and truly all material facts, and relied only on material already on record; the reassessment notice and proceedings for A.Y. 2011-12 were therefore invalid. On merits, the addition under section 68 for share capital and share premium was deleted because the assessee produced evidence of investor identity, creditworthiness and transaction genuineness, including banking and corporate records. The Tribunal also noted that the pre-2013 position did not require proof of source of source, and that premium-related doubts, section 56(2)(viib), and the later amendment to section 68 did not justify the addition on the facts stated.
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