Tag Archives: Accountant Member

Penalty Imposed Under Section 271(1)(c) Without Initiation in Assessment Order Is Unlawful and Void

By | October 26, 2026
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Penalty Imposed Under Section 271(1)(c) Without Initiation in Assessment Order Is Unlawful and Void Issue Whether a penalty imposed under Section 271(1)(c) is legally sustainable when the assessment order recorded satisfaction and initiated penalty proceedings exclusively under Section 271AAC without any direction or initiation under Section 271(1)(c)? Facts Assessment Year: The case pertains to Assessment… Read More »

Date of share transfer determines capital gains accrual, preventing substitution of subsequent higher transaction pricing.

By | September 11, 2026
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Date of share transfer determines capital gains accrual, preventing substitution of subsequent higher transaction pricing. Issue Whether the Assessing Officer was justified in treating two separate share transfers executed on different dates at different prices as a single composite transaction and substituting the higher subsequent price for the earlier transfer to assess capital gains. Facts… Read More »

Stamp Duty Value on Date of Agreement Applies Under Proviso to Section 50C for Unregistered Agreements

By | August 13, 2026
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Stamp Duty Value on Date of Agreement Applies Under Proviso to Section 50C for Unregistered Agreements Stamp Duty Value on Date of Agreement Applies Under Proviso to Section 50C for Unregistered Agreements Issues Applicability of Stamp Duty Value on Date of Agreement: Whether the proviso to Section 50C requires an agreement to sell to be… Read More »