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...
Final-instalment payment under the Income Declaration Scheme depends on verifying that the cheque was tendered by the due date and that the amount was subsequently credited to the Income Tax Department's account. Applicability of the relevant circular was not determined on the available facts. The payment and credit were to be re-examined; where verified facts brought the declarant within the circular, Scheme benefits were to be granted.
Final-instalment payment under the Income Declaration Scheme depends on verifying that the cheque was tendered by the due date and that the amount was subsequently credited to the Income Tax Department's account. Applicability of the relevant circular was not determined on the available facts. The payment and credit were to be re-examined; where verified facts brought the declarant within the circular, Scheme benefits were to be granted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
