Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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Cash deposits during demonetisation were accepted as explained where recorded sales, stock details, VAT returns and cash-in-hand records supported the books; the estimated gross profit addition failed because the books were rejected without specific defects, and the material showed stock-backed sales rather than suspicion. The Tribunal also held that M/s. Jain Bullion belonged to its proprietor, not the assessee, since the relevant bank accounts were operated by the proprietor and the concern had separately conducted business and filed returns. Separately, the notional annual letting value addition in search assessment was deleted because no incriminating material for that item was found during the search.
Cash deposits during demonetisation were accepted as explained where recorded sales, stock details, VAT returns and cash-in-hand records supported the books; the estimated gross profit addition failed because the books were rejected without specific defects, and the material showed stock-backed sales rather than suspicion. The Tribunal also held that M/s. Jain Bullion belonged to its proprietor, not the assessee, since the relevant bank accounts were operated by the proprietor and the concern had separately conducted business and filed returns. Separately, the notional annual letting value addition in search assessment was deleted because no incriminating material for that item was found during the search.
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