Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Rule 46A permits additional evidence before the first appellate authority only in the specified circumstances, and the permission must be supported by a written, reasoned order; the Assessing Officer must also be given a mandatory opportunity to examine and rebut that evidence in compliance with audi alteram partem. Here, no reasons were recorded for admitting the additional evidence and no material showed that the Assessing Officer was afforded any real opportunity to rebut it. The Tribunal therefore erred in sustaining the Commissioner (Appeals)' order. The Tribunal and Commissioner (Appeals) orders were set aside, and the matter was remanded for a fresh speaking order on admission of additional evidence and, if admitted, an opportunity to the Assessing Officer to rebut it.
Rule 46A permits additional evidence before the first appellate authority only in the specified circumstances, and the permission must be supported by a written, reasoned order; the Assessing Officer must also be given a mandatory opportunity to examine and rebut that evidence in compliance with audi alteram partem. Here, no reasons were recorded for admitting the additional evidence and no material showed that the Assessing Officer was afforded any real opportunity to rebut it. The Tribunal therefore erred in sustaining the Commissioner (Appeals)' order. The Tribunal and Commissioner (Appeals) orders were set aside, and the matter was remanded for a fresh speaking order on admission of additional evidence and, if admitted, an opportunity to the Assessing Officer to rebut it.
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