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...
Primary documentation establishing investor identity, creditworthiness and transaction genuineness is described as sufficient to discharge the initial burden for preference share capital credited under section 68. The notes state that additions cannot rest on suspicion where the Revenue produces no material showing that the assessee's own funds were routed back through investor entities. They further state that directors' adverse statements cannot sustain an addition when effective cross-examination is unavailable and documentary evidence remains undisplaced. On these stated facts, the preference share capital addition was deleted.
Primary documentation establishing investor identity, creditworthiness and transaction genuineness is described as sufficient to discharge the initial burden for preference share capital credited under section 68. The notes state that additions cannot rest on suspicion where the Revenue produces no material showing that the assessee's own funds were routed back through investor entities. They further state that directors' adverse statements cannot sustain an addition when effective cross-examination is unavailable and documentary evidence remains undisplaced. On these stated facts, the preference share capital addition was deleted.
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