Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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Only the profit element embedded in on-money receipts was held taxable, because the Tribunal examined the assessee's disclosed receipts, profit and loss account, gross revenue and project cost, and found that taxing the entire on-money would create an unrealistically high net profit ratio for the real estate business. The Tribunal therefore treated the receipts as containing profit only and, on estimate, enhanced the addition from 20% to 40%. The High Court held this to be a factual appreciation and estimation exercise, not a substantial question of law. Both the Revenue's challenge for full addition and the assessee's challenge to the higher estimate were rejected.
Only the profit element embedded in on-money receipts was held taxable, because the Tribunal examined the assessee's disclosed receipts, profit and loss account, gross revenue and project cost, and found that taxing the entire on-money would create an unrealistically high net profit ratio for the real estate business. The Tribunal therefore treated the receipts as containing profit only and, on estimate, enhanced the addition from 20% to 40%. The High Court held this to be a factual appreciation and estimation exercise, not a substantial question of law. Both the Revenue's challenge for full addition and the assessee's challenge to the higher estimate were rejected.
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