Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
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...
Section 130 requires that no confiscation of goods or conveyance be ordered without giving the affected person a personal hearing. Mere consideration of a written reply is not enough to satisfy the statutory mandate or the principle of audi alteram partem. As the impugned confiscation order showed no indication that any hearing had been granted, it was held to be vitiated for non-compliance with the mandatory procedure. The High Court quashed the order and remitted the matter for fresh adjudication after affording the petitioner an opportunity of hearing.
Section 130 requires that no confiscation of goods or conveyance be ordered without giving the affected person a personal hearing. Mere consideration of a written reply is not enough to satisfy the statutory mandate or the principle of audi alteram partem. As the impugned confiscation order showed no indication that any hearing had been granted, it was held to be vitiated for non-compliance with the mandatory procedure. The High Court quashed the order and remitted the matter for fresh adjudication after affording the petitioner an opportunity of hearing.
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