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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Reasonable cause was established for cash receipts from farmers and subsequent cash repayments connected with a proposed agricultural-land purchase that could not be completed after the purchaser's father died. Bank records, the death certificate, affidavits and farmers' land records supported the explanation that the amounts were returned after six months. Penalties for contraventions of the statutory restrictions on accepting and repaying loans or deposits in cash were deleted, and the penalty orders were set aside.
Reasonable cause was established for cash receipts from farmers and subsequent cash repayments connected with a proposed agricultural-land purchase that could not be completed after the purchaser's father died. Bank records, the death certificate, affidavits and farmers' land records supported the explanation that the amounts were returned after six months. Penalties for contraventions of the statutory restrictions on accepting and repaying loans or deposits in cash were deleted, and the penalty orders were set aside.
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