Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Overdue associated-enterprise receivables: debt-free status defeated notional-interest adjustment, while employee stock-option costs qualified as busi...
Retrospective assessment-limitation amendments validate final orders while contemporaneous segment data governs transfer-pricing comparability and tol...
Transfer pricing adjustments must track international transactions, while unsupported AMP adjustments and unsuitable manufacturing comparables require...
Appellate authorities must decide an income-tax appeal on its merits where it has not been withdrawn, notwithstanding the assessee's non-prosecution or failure to make further compliance. Dismissal without examining grounds challenging reassessment and additions for unexplained bank credits fails to discharge the appellate duty to adjudicate the issues raised. Challenges concerning audited books, business history and bank withdrawals require consideration after providing an opportunity to substantiate the contentions and produce supporting material. The appeal was restored for fresh appellate adjudication in accordance with law.
Appellate authorities must decide an income-tax appeal on its merits where it has not been withdrawn, notwithstanding the assessee's non-prosecution or failure to make further compliance. Dismissal without examining grounds challenging reassessment and additions for unexplained bank credits fails to discharge the appellate duty to adjudicate the issues raised. Challenges concerning audited books, business history and bank withdrawals require consideration after providing an opportunity to substantiate the contentions and produce supporting material. The appeal was restored for fresh appellate adjudication in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
