Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
HC quashed reassessment under Section 148 where the only basis was an entry in a broker's seized inquiry register. The Court held that seized material must have a live nexus with the assessee and must pertain to or relate to the assessee; here, the entry pre-dated the purchase by nearly twenty-three months, referred to lands available for sale, covered multiple survey numbers and a larger area, and named another person. On these facts, the register entry could not support a presumption of escapement of income, and the reopening was based on conjectures and surmises. The notice for the assessment year 2021-22 was quashed.
HC quashed reassessment under Section 148 where the only basis was an entry in a broker's seized inquiry register. The Court held that seized material must have a live nexus with the assessee and must pertain to or relate to the assessee; here, the entry pre-dated the purchase by nearly twenty-three months, referred to lands available for sale, covered multiple survey numbers and a larger area, and named another person. On these facts, the register entry could not support a presumption of escapement of income, and the reopening was based on conjectures and surmises. The notice for the assessment year 2021-22 was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
