Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
WhatsApp images, standing alone, were held insufficient to sustain additions for alleged cash salary and bonus payments because they did not identify the nature of the entries, and no corroborative evidence of actual cash disbursement was produced; the additions were deleted. In the stock matter, the alleged shortage during survey failed because silo stock was not properly quantified, the verification exercise was materially deficient, and later reconciliation and supporting records were not effectively examined; the consequent addition by applying a gross profit rate on presumed unaccounted sales was also deleted. The assessee's appeals were partly allowed and the Revenue's challenge failed.
WhatsApp images, standing alone, were held insufficient to sustain additions for alleged cash salary and bonus payments because they did not identify the nature of the entries, and no corroborative evidence of actual cash disbursement was produced; the additions were deleted. In the stock matter, the alleged shortage during survey failed because silo stock was not properly quantified, the verification exercise was materially deficient, and later reconciliation and supporting records were not effectively examined; the consequent addition by applying a gross profit rate on presumed unaccounted sales was also deleted. The assessee's appeals were partly allowed and the Revenue's challenge failed.
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