Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
A challenge to an assessment order on grounds of confirmed tax demand failed where the petitioner's reply to the show cause notice had already accepted liability for delayed remittance of tax for the relevant period and undertaken to pay it. The High Court noted that the demand reflected in the assessment order corresponded to that admission, so no surviving ground remained to dispute the order. The writ petition was dismissed on that basis.
A challenge to an assessment order on grounds of confirmed tax demand failed where the petitioner's reply to the show cause notice had already accepted liability for delayed remittance of tax for the relevant period and undertaken to pay it. The High Court noted that the demand reflected in the assessment order corresponded to that admission, so no surviving ground remained to dispute the order. The writ petition was dismissed on that basis.
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