Income Tax – Validity of reassessment proceedings against a company struck off from the Register of Companies – Reassessment proceedings were initiated under the amended provisions of section 147 against the Appellant-company, which was engaged in trading of agri commodities, precious metals and der...
Income Tax – Grounds not pressed, Cost of improvement and expenses of transfer - The CIT(A) had set aside the issue of disallowance of cost of improvement and expenses of transfer to the file of the AO for verification - The Appellant did not wish to press the grounds challenging such disallowance a...
Income Tax – Renewal of registration under section 12AB, Sponsorship receipts of a sports association and proviso to section 2(15) - Appellant, a society established for promotion and development of women’s golf, registered since inception and under the new regime for earlier assessment years, organ...
Income Tax – Condonation of delay in filing appeal before the Tribunal under section 253(3) - Appellant filed appeal against the order of the CIT(A) arising from an intimation under section 143(1) after a substantial delay, citing the COVID-19 pandemic, poor health of its managing director, unsettle...
Income Tax – Section 69B, Addition on account of unexplained investment in shares on the basis of valuation report - Respondent purchased shares of a company holding the franchise licence of a sports team at the contracted price per share from a non-resident shareholder, and reassessment was initiat...