Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Unaccounted cash receipts from flat sales are taxable only to...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial additions.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Unaccounted cash receipts from flat sales are taxable only to the extent of the profit embedded in the receipts; gross sale proceeds do not themselves constitute income. Where corresponding sales are accepted, alleged non-genuine steel purchases sourced through the grey market likewise permit taxation only of the embedded profit element, not the full purchase value. Search-seized electronic records meeting statutory admission requirements, when corroborated by statements recorded during search, remain reliable evidence despite a belated retraction unsupported by cogent material. A stamp-value addition was restored because it was not contested, without examination of its merits.
Unaccounted cash receipts from flat sales are taxable only to the extent of the profit embedded in the receipts; gross sale proceeds do not themselves constitute income. Where corresponding sales are accepted, alleged non-genuine steel purchases sourced through the grey market likewise permit taxation only of the embedded profit element, not the full purchase value. Search-seized electronic records meeting statutory admission requirements, when corroborated by statements recorded during search, remain reliable evidence despite a belated retraction unsupported by cogent material. A stamp-value addition was restored because it was not contested, without examination of its merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
