Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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A technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
A technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
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