Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Protective additions for alleged secret commission receipts cannot survive after deletion of corresponding substantive additions in the hands of the alleged real beneficiary. The Tribunal's reasoning, as reported, also notes that the Commissioner (Appeals) found no substantive evidence supporting the alleged receipts, and that the taxpayer's position for relevant assessment years was supported by the cited High Court decision. Consequently, the protective additions were unsustainable and the Revenue's appeals were dismissed.
Protective additions for alleged secret commission receipts cannot survive after deletion of corresponding substantive additions in the hands of the alleged real beneficiary. The Tribunal's reasoning, as reported, also notes that the Commissioner (Appeals) found no substantive evidence supporting the alleged receipts, and that the taxpayer's position for relevant assessment years was supported by the cited High Court decision. Consequently, the protective additions were unsustainable and the Revenue's appeals were dismissed.
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