https://www.taxtmi.com/caselaws?id=762219 The Supreme Court maintained the stay on further proceedings under Section 148 of the Income Tax Act, 1961. It determined that the familial relationship between the vendor and vendee, being mother and son, rendered the circle rate inapplicable for invoking Section 50C of the Act. The Court scheduled the submission of a counter affidavit or reply within three weeks, followed by a rejoinder three weeks thereafter. The case is set to be re-listed in the week beginning 11 November 2024. en-us Tue, 20 Aug 2024 00:00:00 +0530 Wed, 27 Nov 2024 08:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762219 The Supreme Court maintained the stay on further proceedings under Section 148 of the Income Tax Act, 1961. It determined that the familial relationship between the vendor and vendee, being mother and son, rendered the circle rate inapplicable for invoking Section 50C of the Act. The Court scheduled the submission of a counter affidavit or reply within three weeks, followed by a rejoinder three weeks thereafter. The case is set to be re-listed in the week beginning 11 November 2024. Case-Laws Income Tax Tue, 20 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762219