Insolvency Laws – Amendment in various regulations
- No addition to be made in hands of assessee solely on basis of uncorroborated loose-sheet
- Claim of Leave Encashment exemption u/s 10(10AA)(ii) dismissed beyond Rs. 3 lakhs
- AO took a reasonable stand that 25 kg written in WhatsApp chat was 25 lakh – ITAT
- Shareholders can’t be taxed for income from properties owned by the company – HC
- Jurisdictional error in reassessment approval can’t be shielded by the law of limitation
