Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Telescoping of cash recognised in an earlier year as exempt agricultural-land sale proceeds remains available against a later unexplained-money addition unless the Revenue establishes its intervening investment or expenditure. Cash attributed to a non-earning senior citizen mother and minor children may be explained through household savings, pin money, stridhan and customary family gifts; non-filing of returns alone does not discredit such explanations where income does not exceed the non-taxable threshold. The evaluation must account for human probabilities, surrounding circumstances and Indian socio-cultural practices rather than demand commercial records or mathematical precision. The remaining addition for unexplained money was deleted.
Telescoping of cash recognised in an earlier year as exempt agricultural-land sale proceeds remains available against a later unexplained-money addition unless the Revenue establishes its intervening investment or expenditure. Cash attributed to a non-earning senior citizen mother and minor children may be explained through household savings, pin money, stridhan and customary family gifts; non-filing of returns alone does not discredit such explanations where income does not exceed the non-taxable threshold. The evaluation must account for human probabilities, surrounding circumstances and Indian socio-cultural practices rather than demand commercial records or mathematical precision. The remaining addition for unexplained money was deleted.
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