Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Revenue-neutral domestic transfer pricing and mirror transactions justified deletion of related-party adjustments for operation, maintenance and port ...
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A prior unsuccessful revision under section 264 did not bar the assessee from pursuing the statutory appellate remedy, as the right of appeal is a substantive statutory right and no provision prohibited recourse to appeal after an earlier bona fide attempt at revision. The Tribunal also accepted sufficient cause for the delay before the first appellate authority and rejected the non-maintainability finding. On merits, cash deposits made during demonetisation were supported by bank records and supporting documents showing withdrawals for house construction and their later redeposit, so the addition under section 69A was held to rest on mere guesswork and was deleted.
A prior unsuccessful revision under section 264 did not bar the assessee from pursuing the statutory appellate remedy, as the right of appeal is a substantive statutory right and no provision prohibited recourse to appeal after an earlier bona fide attempt at revision. The Tribunal also accepted sufficient cause for the delay before the first appellate authority and rejected the non-maintainability finding. On merits, cash deposits made during demonetisation were supported by bank records and supporting documents showing withdrawals for house construction and their later redeposit, so the addition under section 69A was held to rest on mere guesswork and was deleted.
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