Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Disallowance of expenses when the business was not fully functional - - Nowhere in the order of the AO there is a whisper as to how the expenditure is excessive and how the expenditure is not having been incurred for the purpose of business u/s 37(1) or there is a personal expenditure - AO cannot disallow expenditure on estimate basis - AT
Disallowance of expenses when the business was not fully functional - - Nowhere in the order of the AO there is a whisper as to how the expenditure is excessive and how the expenditure is not having been incurred for the purpose of business u/s 37(1) or there is a personal expenditure - AO cannot disallow expenditure on estimate basis - AT
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