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...
Form No. 10 by itself did not justify treating the amount set apart for educational building work as undisclosed income, because neither the AO nor the appellate authority had material to show that the income was actually received and omitted from the books; the addition was deleted. The addition relating to opening capital work-in-progress also failed, as the assessee had claimed only capital assets added during the year as application of income and had not treated the opening balance as current-year application; that addition was deleted. The claim for set-off of excess application of earlier years was accepted for verification, and the Assessing Officer was directed to allow the benefit after proper verification.
Form No. 10 by itself did not justify treating the amount set apart for educational building work as undisclosed income, because neither the AO nor the appellate authority had material to show that the income was actually received and omitted from the books; the addition was deleted. The addition relating to opening capital work-in-progress also failed, as the assessee had claimed only capital assets added during the year as application of income and had not treated the opening balance as current-year application; that addition was deleted. The claim for set-off of excess application of earlier years was accepted for verification, and the Assessing Officer was directed to allow the benefit after proper verification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
