Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Cash and transfer entries from a subsequent financial year were included in the Assessment Year 2022-23 assessment, despite the relevant year being Financial Year 2021-22. The High Court treated the unresolved revisional challenge to those entries as material and held that its inadequate consideration vitiated both the assessment and revisional orders. Those orders were set aside, and the assessing authority must make a fresh determination within two months in accordance with law. The merits of the unexplained cash-deposit addition remain open.
Cash and transfer entries from a subsequent financial year were included in the Assessment Year 2022-23 assessment, despite the relevant year being Financial Year 2021-22. The High Court treated the unresolved revisional challenge to those entries as material and held that its inadequate consideration vitiated both the assessment and revisional orders. Those orders were set aside, and the assessing authority must make a fresh determination within two months in accordance with law. The merits of the unexplained cash-deposit addition remain open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
