“Section 103(3)”

If the Assessing Officer relies on adverse evidence or witness testimony, including statements recorded under Section 132(4), the assessee must be provided an opportunity to cross-examine the witness or source of the evidence, upholding principles of natural justice. An assessment made without such an opportunity may be considered invalid.

An intimation issued under Section 143(1)(a) cannot make adjustments for debatable issues that require detailed scrutiny, such as the disallowance of delayed employee contributions to ESI/PF. Appellate authorities also have the power to entertain fresh claims made by an assessee, even if these were not raised in the original or revised return of income.

Depreciation on goodwill arising from amalgamation is not admissible to the amalgamated company if no goodwill was admitted in the hands of the amalgamating company, applying Explanation 7 to Section 43(1) and the Sixth Proviso to Section 32(1)(ii).

When an assessee proves the identity and creditworthiness of investor companies by providing their PAN, confirmation letters, bank statements, and audited balance sheets, the assessee is not required to prove the 'source of source'.

An assessment can be reopened based on an audit objection, regardless of whether the issue is factual or legal.

If the primary purpose of a trust is charitable, an ancillary object that is not itself charitable will not disqualify the trust from being considered a valid charity.

Payments exceeding Rs. 20,000 that violate Section 40A(3) are not covered by the exception in Rule 6DD(j) if the genuineness of such expenses is doubtful, especially when they are unrecorded in the books.

The exception under Rule 6DD(j) for payments exceeding Rs. 20,000 cannot be applied if the genuineness of the expenses is doubtful, especially when those expenses are unrecorded.