Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
ITAT deleted the addition in the firm's hands for partners' capital contribution under section 68, holding that once the firm furnished the source of capital and the partners confirmed the contribution, its onus stood discharged; any further inquiry into creditworthiness had to be made against the partners, not the firm. On unsecured loans from two creditors, the Tribunal found the assessee's version of banking-channel receipts and later repayment with interest required verification of bank entries and repayment evidence. That issue was remanded to the Assessing Officer for fresh adjudication, with no addition indicated if repayment was established. The appeal was thus allowed for statistical purposes.
ITAT deleted the addition in the firm's hands for partners' capital contribution under section 68, holding that once the firm furnished the source of capital and the partners confirmed the contribution, its onus stood discharged; any further inquiry into creditworthiness had to be made against the partners, not the firm. On unsecured loans from two creditors, the Tribunal found the assessee's version of banking-channel receipts and later repayment with interest required verification of bank entries and repayment evidence. That issue was remanded to the Assessing Officer for fresh adjudication, with no addition indicated if repayment was established. The appeal was thus allowed for statistical purposes.
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