The issue was whether reassessment could proceed without disposing of objections to recorded reasons. The Court held that failure to decide objections vitiates the entire reassessment.
The Court examined rejection of condonation for delayed e-filing despite acceptance of related delays. It ruled that authorities must consider genuine hardship and cannot deny relief on a purely technical ground.
The issue was whether reassessment notices issued after the permissible surviving period were valid. The Court held they were time-barred and quashed them, reinforcing strict adherence to limitation rules.
The issue was whether courts can take cognizance of company fraud offences on a private complaint. The Supreme Court held that offences linked to fraud punishment require an SFIO or authorised government complaint, reinforcing statutory safeguards.
The ruling clarifies that specified sum under section 269SS refers to advances linked to property transfers. Cash received as final consideration at registration cannot trigger penalty under section 271D.
The Tribunal applied common sense to accept that some jewellery belonged to visiting relatives. It granted partial deletion, stressing that complete relief requires corroborative evidence.
The tribunal rejected demand raised solely due to Form 26AS mismatch caused by employer non-deposit of TDS. The key principle is that employees cannot be penalised for failures beyond their control.
The Court set aside a 3.5% TDS certificate after the PE finding relied upon by the Revenue was overturned by the ITAT. The earlier 1.5% rate was restored due to lack of legal foundation.
While search proceedings were still pending, the Court permitted release of seized jewellery and cash after petitioners deposited amounts against possible tax demand. No view was taken on merits of explanations.
The Supreme Court examined whether shares received on amalgamation can be taxed as business income when held as stock-in-trade. It ruled that tax arises only if the substitution results in a real, commercially realizable gain, not a mere statutory replacement.
