Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
On identical facts, the ITAT applied the principle of consistency and upheld assessment of only 1% commission on gross bank transactions, rejecting a broader addition. The Tribunal noted that in the preceding year the Assessing Officer had treated the assessee as a consignment sales agent for Khal Binola and taxed only commission income, and that tax deduction under section 194H supported the view that the bank deposits represented consignment sale proceeds on behalf of principals. Following Radhasoami Satsang and Excel Industries, the Tribunal sustained the addition only to that limited extent and deleted the balance.
On identical facts, the ITAT applied the principle of consistency and upheld assessment of only 1% commission on gross bank transactions, rejecting a broader addition. The Tribunal noted that in the preceding year the Assessing Officer had treated the assessee as a consignment sales agent for Khal Binola and taxed only commission income, and that tax deduction under section 194H supported the view that the bank deposits represented consignment sale proceeds on behalf of principals. Following Radhasoami Satsang and Excel Industries, the Tribunal sustained the addition only to that limited extent and deleted the balance.
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