Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
A scrutiny assessment challenge based on alleged non-compliance with CBDT scrutiny-selection instructions was rejected, the Tribunal following binding jurisdictional High Court precedent. The rent-related disallowance under section 40(a)(ia) was deleted to the extent tax was not deductible, including rent paid to Haryana Urban Development Authority. In the bogus purchase dispute, the Tribunal upheld partial relief and gross profit estimation at 2.37% on market-comparable reasoning, and applied the same approach to the connected unexplained expenditure issue. The estimated addition on sundry creditors was rejected because no individual credit entries were examined and the purchases stood accepted. The related-party salary disallowance under section 40A(2)(b) was also upheld as deleted on revenue-neutrality grounds.
A scrutiny assessment challenge based on alleged non-compliance with CBDT scrutiny-selection instructions was rejected, the Tribunal following binding jurisdictional High Court precedent. The rent-related disallowance under section 40(a)(ia) was deleted to the extent tax was not deductible, including rent paid to Haryana Urban Development Authority. In the bogus purchase dispute, the Tribunal upheld partial relief and gross profit estimation at 2.37% on market-comparable reasoning, and applied the same approach to the connected unexplained expenditure issue. The estimated addition on sundry creditors was rejected because no individual credit entries were examined and the purchases stood accepted. The related-party salary disallowance under section 40A(2)(b) was also upheld as deleted on revenue-neutrality grounds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
