Social forestry expenditure requires activity-based classification, limiting book-profit adjustments and preserving penalty relief where normal additi...
Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Transfer-pricing tolerance for software sub-licensing falls within the services range, eliminating the adjustment and requiring TDS-credit verificatio...
Customs Broker due diligence requires prescribed KYC, not detecting misdeclarations discoverable only through physical examination, defeating licence ...
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Historical wealth-tax records, valuation reports and family-distribution evidence can substantiate ancestral and self-owned jewellery; non-filing of later wealth-tax returns, without evidence of disposal, does not establish that prior holdings were sold. Accordingly, jewellery disclosed in Schedule AL could not be treated as unexplained merely because original purchase bills were unavailable. Brokerage paid to a Hindu undivided family is not deductible as investment cost for capital-gains exemption where no family fund or asset generated the income and its Karta or coparcener was separately paid for the same personal services. Recipient confirmation or taxability does not establish deductibility; the brokerage disallowance remained sustainable.
Historical wealth-tax records, valuation reports and family-distribution evidence can substantiate ancestral and self-owned jewellery; non-filing of later wealth-tax returns, without evidence of disposal, does not establish that prior holdings were sold. Accordingly, jewellery disclosed in Schedule AL could not be treated as unexplained merely because original purchase bills were unavailable. Brokerage paid to a Hindu undivided family is not deductible as investment cost for capital-gains exemption where no family fund or asset generated the income and its Karta or coparcener was separately paid for the same personal services. Recipient confirmation or taxability does not establish deductibility; the brokerage disallowance remained sustainable.
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