CBDT releases draft Rule 11UA incorporating 5 new valuation methods, invite public comments by 5-6-2023.
Notification F. No. 370142/9/2023, dated 26-5-2023.
Section 132 – SLP dismissed against order of HC that retraction of statement recorded u/s 132(4) has to be made within reasonable time or immediately after statement of assessee is recorded and, hence where retraction of statement recorded u/s 132(4) and later confirmed in statement recorded u/s 131 had been made by the assessee after almost eight months, same was to be discarded.
Roshan Lal Sanchiti v. PCIT – [2023] 150 taxmann.com 228 (SC).