Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Jurisdiction for notice under section 148 was tested on the material available when proceedings began, not on the income ultimately assessed. The Tribunal held that section 149(1)(b) permitted notice beyond three years where the Assessing Officer possessed books, documents or evidence indicating income represented in the form of an asset and likely to meet the statutory threshold. Cash withdrawals exceeding Rs. 1.50 crores, together with non-filing of a return, constituted tangible material for a prima facie view that the threshold was satisfied. The assessee's time-bar objection failed, and the reassessment notice was upheld as valid.
Jurisdiction for notice under section 148 was tested on the material available when proceedings began, not on the income ultimately assessed. The Tribunal held that section 149(1)(b) permitted notice beyond three years where the Assessing Officer possessed books, documents or evidence indicating income represented in the form of an asset and likely to meet the statutory threshold. Cash withdrawals exceeding Rs. 1.50 crores, together with non-filing of a return, constituted tangible material for a prima facie view that the threshold was satisfied. The assessee's time-bar objection failed, and the reassessment notice was upheld as valid.
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