Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
In closely held companies, share capital credits require proof of identity, creditworthiness and genuineness; mere documentary filing is not enough where enquiries create doubts, and the share capital and premium addition was restored. Alleged commission on accommodation entries could not be sustained on surmise alone, so relief was granted on that item. Sundry creditor transactions required fresh verification because unresolved mismatches and bona fides concerns remained, so the issue was remanded for enquiry. On gross profit, complete deletion was rejected, but the best-judgment estimate was moderated and the rate was directed to be recomputed at 7%.
In closely held companies, share capital credits require proof of identity, creditworthiness and genuineness; mere documentary filing is not enough where enquiries create doubts, and the share capital and premium addition was restored. Alleged commission on accommodation entries could not be sustained on surmise alone, so relief was granted on that item. Sundry creditor transactions required fresh verification because unresolved mismatches and bona fides concerns remained, so the issue was remanded for enquiry. On gross profit, complete deletion was rejected, but the best-judgment estimate was moderated and the rate was directed to be recomputed at 7%.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
