Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Alleged bogus purchases could not justify an ad hoc gross profit addition where the suppliers' non-filing of returns was the only adverse feature, the purchases were recorded in the books, and no contrary material disproved them; the gross profit-based addition was deleted. On alleged unaccounted sales, only the profit element could be taxed, so the Tribunal sustained addition at a net profit rate of 4% rather than taxing the full sale proceeds. Cash entry-fee receipts were extrapolated from a short period, so the addition was restricted to 25%. Separate unexplained expenditure was telescoped against the estimated undisclosed income and deleted, and section 69C could not apply to recorded purchases paid through banking channels.
Alleged bogus purchases could not justify an ad hoc gross profit addition where the suppliers' non-filing of returns was the only adverse feature, the purchases were recorded in the books, and no contrary material disproved them; the gross profit-based addition was deleted. On alleged unaccounted sales, only the profit element could be taxed, so the Tribunal sustained addition at a net profit rate of 4% rather than taxing the full sale proceeds. Cash entry-fee receipts were extrapolated from a short period, so the addition was restricted to 25%. Separate unexplained expenditure was telescoped against the estimated undisclosed income and deleted, and section 69C could not apply to recorded purchases paid through banking channels.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
