Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
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A seized photocopy of an agreement to sell was treated as reliable incriminating material where it was signed on every page, witnessed, and matched the subsequent registered sale deeds on consideration details, cheque particulars and witness identity; the Tribunal held that no further independent corroboration was required and sustained the addition for under-reported sale consideration. For penalty, it held that cash paid at the time of execution of a registered sale deed is distinct from the advance or specified sum targeted by the amended section 269SS, which was intended to curb cash advances in real-estate transactions; on that basis, penalty under section 271D was deleted.
A seized photocopy of an agreement to sell was treated as reliable incriminating material where it was signed on every page, witnessed, and matched the subsequent registered sale deeds on consideration details, cheque particulars and witness identity; the Tribunal held that no further independent corroboration was required and sustained the addition for under-reported sale consideration. For penalty, it held that cash paid at the time of execution of a registered sale deed is distinct from the advance or specified sum targeted by the amended section 269SS, which was intended to curb cash advances in real-estate transactions; on that basis, penalty under section 271D was deleted.
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