Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Admission of the drawer's cheque signature triggers presumptions of consideration and discharge of debt, rebuttable on a preponderance of probabilities; an uncorroborated lost-cheque claim supported only by a General Diary entry and stop-payment instructions does not suffice. Lack of loan documentation or tax disclosure does not by itself invalidate a modest hand loan absent a timely, probable challenge to the lender's financial capacity. A proprietary concern lacks separate juridical identity, leaving its proprietor personally liable as cheque drawer. Revision does not permit fresh evidence appraisal absent perversity, complete misreading, or manifest legal error causing miscarriage of justice. Semantic inconsistency concerning financial distress and business operation does not establish unclean hands. The conviction remained affirmed; imprisonment was waived while compensation and default sentence were retained subject to deposit adjustment.
Admission of the drawer's cheque signature triggers presumptions of consideration and discharge of debt, rebuttable on a preponderance of probabilities; an uncorroborated lost-cheque claim supported only by a General Diary entry and stop-payment instructions does not suffice. Lack of loan documentation or tax disclosure does not by itself invalidate a modest hand loan absent a timely, probable challenge to the lender's financial capacity. A proprietary concern lacks separate juridical identity, leaving its proprietor personally liable as cheque drawer. Revision does not permit fresh evidence appraisal absent perversity, complete misreading, or manifest legal error causing miscarriage of justice. Semantic inconsistency concerning financial distress and business operation does not establish unclean hands. The conviction remained affirmed; imprisonment was waived while compensation and default sentence were retained subject to deposit adjustment.
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TaxTMI 
TaxTMI 
of 4918 
