Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Reassessment under Sections 147 and 148 requires a bona fide reason to believe, founded on tangible material having a live link to possible income escapement; final proof is not required at the notice stage. Reopening is impermissible where the Assessing Officer seeks to revisit an issue consciously examined in the original scrutiny, but prior production of documents alone does not establish full and true disclosure or formation of an opinion. Survey-derived information may support reopening where it reveals previously unexamined material facts about a transaction's true character. Recorded reasons are the exclusive jurisdictional foundation: later material cannot supplement them. Taxpayers must receive the reasons, have an opportunity to object, and obtain a speaking order before reassessment proceeds.
Reassessment under Sections 147 and 148 requires a bona fide reason to believe, founded on tangible material having a live link to possible income escapement; final proof is not required at the notice stage. Reopening is impermissible where the Assessing Officer seeks to revisit an issue consciously examined in the original scrutiny, but prior production of documents alone does not establish full and true disclosure or formation of an opinion. Survey-derived information may support reopening where it reveals previously unexamined material facts about a transaction's true character. Recorded reasons are the exclusive jurisdictional foundation: later material cannot supplement them. Taxpayers must receive the reasons, have an opportunity to object, and obtain a speaking order before reassessment proceeds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
