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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
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...
ITAT set aside the disallowance of agricultural income exemption for AY 2016-17 after finding that supporting bills and invoices had been filed but not considered, while land ownership and agricultural use evidence remained incomplete; the matter was remanded for fresh adjudication with opportunity to file further material. The deletion of the addition under section 69 for unexplained investment in immovable properties was also vacated because the appellate relief had been based on additional evidence not properly dealt with, and the applicability of section 69 was left open for the Assessing Officer. For AY 2020-21, the denial of agricultural income exemption was remanded because relied-upon adverse material was not clearly confronted to the assessee, requiring fresh decision after hearing.
ITAT set aside the disallowance of agricultural income exemption for AY 2016-17 after finding that supporting bills and invoices had been filed but not considered, while land ownership and agricultural use evidence remained incomplete; the matter was remanded for fresh adjudication with opportunity to file further material. The deletion of the addition under section 69 for unexplained investment in immovable properties was also vacated because the appellate relief had been based on additional evidence not properly dealt with, and the applicability of section 69 was left open for the Assessing Officer. For AY 2020-21, the denial of agricultural income exemption was remanded because relied-upon adverse material was not clearly confronted to the assessee, requiring fresh decision after hearing.
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