Sec. 54F: Mother can’t be deemed as owner of house purchased by minor-daughter out of her own income

IT : Where Assessing Officer had passed cryptic, non-speaking order, Commissioner was justified in invoking jurisdiction under section 263

Assessee can’t opt for full rate of duty for one unit and SSI-exemption for another

Excise & Customs : Once assessee has exercised to keep out of SSI-exemption for Unit 1 and pay full rate of duty, it cannot claim benefit of SSI-exemption for Unit 2

SAT upheld penalty on appellant for failing to redress investor grievances after obtaining SCORES au

SEBI: Where appellant failed to redress investor grievances within stipulated time after obtaining SCORES authentication as per circular issued by SEBI, penalty was rightly imposed upon appellant under section 15C

AO gets flak from HC for non-supply of reasons indicating escapement of income

IT : It is absolutely necessary that reasons recorded for formation of belief that income of assessee has escaped assessment, are supplied to assessee so that he may be in position to question legality of re-assessment proceedings initiated on all available grounds

Disclosure of receipts during search against booking of housing project is eligible for sec. 80-IB r

IT: Where during course of search conducted under section 132, assessee, a builder, had offered a sum of Rs. 40 lakhs as undisclosed receipts against bookings from customers of prime plus project and subsequently declared same in return of income filed, it was entitled for deduction under section 80-IB(10) on such receipts