Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Low household withdrawals were treated as unjustified where the assessee showed substantially lower withdrawals than in the preceding year and produced no evidence that the spouse met household expenses, so the Revenue's estimation was upheld. Year-end trade and expense creditors were not assessable as unexplained cash credits under section 68 because the assessment accepted the transaction credits but rejected only the unpaid balances without reason, and the outstanding amounts were later paid through banking channels. Freight expenditure was disallowed under section 40(a)(ia) because tax had not been deducted at source and the transporters' declarations under section 194C(6) were incomplete and appeared afterthoughts, so the disallowance was sustained.
Low household withdrawals were treated as unjustified where the assessee showed substantially lower withdrawals than in the preceding year and produced no evidence that the spouse met household expenses, so the Revenue's estimation was upheld. Year-end trade and expense creditors were not assessable as unexplained cash credits under section 68 because the assessment accepted the transaction credits but rejected only the unpaid balances without reason, and the outstanding amounts were later paid through banking channels. Freight expenditure was disallowed under section 40(a)(ia) because tax had not been deducted at source and the transporters' declarations under section 194C(6) were incomplete and appeared afterthoughts, so the disallowance was sustained.
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