Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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Documentary evidence of purchase, holding and sale of listed shares, including contract notes, demat records and bank statements, was sufficient to discharge the initial onus of genuineness. General investigation-wing material on alleged penny stock accommodation entries could not sustain an addition under section 68 without independent inquiry or specific adverse evidence linking the assessee or broker to price manipulation. Denial of cross-examination of the persons whose statements were relied on further weakened the revenue case. As the section 68 addition failed, the consequential commission addition under section 69C also fell and was deleted.
Documentary evidence of purchase, holding and sale of listed shares, including contract notes, demat records and bank statements, was sufficient to discharge the initial onus of genuineness. General investigation-wing material on alleged penny stock accommodation entries could not sustain an addition under section 68 without independent inquiry or specific adverse evidence linking the assessee or broker to price manipulation. Denial of cross-examination of the persons whose statements were relied on further weakened the revenue case. As the section 68 addition failed, the consequential commission addition under section 69C also fell and was deleted.
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