Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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In a section 68 dispute over an unexplained unsecured loan, the High Court noted that the Tribunal had relied on the undisputed repayment of the loan through banking channels and its disclosure in the books. It accepted the Tribunal's view, supported by jurisdictional precedents, that such repayment and disclosure were sufficient to negate the addition in the absence of further material showing an accommodation entry. The Court found no error in deleting the addition, held that no substantial question of law arose, and dismissed the Revenue's appeals.
In a section 68 dispute over an unexplained unsecured loan, the High Court noted that the Tribunal had relied on the undisputed repayment of the loan through banking channels and its disclosure in the books. It accepted the Tribunal's view, supported by jurisdictional precedents, that such repayment and disclosure were sufficient to negate the addition in the absence of further material showing an accommodation entry. The Court found no error in deleting the addition, held that no substantial question of law arose, and dismissed the Revenue's appeals.
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