Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Cash is treated as property under the Act, and routing demonetised cash through another person's bank account and back through banking channels can amount to a benami arrangement if the alleged business deal is not genuine. The Tribunal relied on inconsistencies in stock records, invoices, bank entries and the claimed gold sale, and noted the absence of purchaser KYC, PAN and reliable proof of delivery through the broker; it treated the broker's affidavit as insufficient. It also rejected objections on non-examination of the alleged account operator and on cross-examination, finding the person untraceable and no prejudice shown. The attachment was upheld and the appeal dismissed.
Cash is treated as property under the Act, and routing demonetised cash through another person's bank account and back through banking channels can amount to a benami arrangement if the alleged business deal is not genuine. The Tribunal relied on inconsistencies in stock records, invoices, bank entries and the claimed gold sale, and noted the absence of purchaser KYC, PAN and reliable proof of delivery through the broker; it treated the broker's affidavit as insufficient. It also rejected objections on non-examination of the alleged account operator and on cross-examination, finding the person untraceable and no prejudice shown. The attachment was upheld and the appeal dismissed.
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