Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—"A Mere Disclosure in Books Does Not Amount to Full and True Disclosure"Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—"A Mere Disclosure in Books Does Not Amount to Full and True Disclosure"
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Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—”A Mere Disclosure in Books Does Not Amount to Full and True Disclosure”

Court’s Decision The Bombay High Court upheld the penalty of ₹33,34,096 imposed under Section 271(1)(c) of the Income Tax Act, 1961, ruling that the appellant had engaged in a “device”…
Bombay High Court Quashes IFS Officer’s Transfer Due to Procedural Irregularities: Holds Handwritten Alterations in Civil Services Board Minutes Render Decision Invalid, Leaves Open Question of State vs. Central Rules for Future Determination
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Bombay High Court Quashes IFS Officer’s Transfer Due to Procedural Irregularities: Holds Handwritten Alterations in Civil Services Board Minutes Render Decision Invalid, Leaves Open Question of State vs. Central Rules for Future Determination

Court’s Decision: The Bombay High Court dismissed the writ petition filed against the Central Administrative Tribunal’s (CAT) order, which had struck down the transfer order dated 5 September 2024. The…