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...
Diallowance of expenses after estimation of profit u/s 144 - ITAT deleted the additions - It is not required for the AO to apply net profit at a particular rate while finalising the assessment u/s144 of the Act. Method for estimating the income in the previous year of the assessee on the basis of net profit at a particular rate cannot be applied for all subsequent years - Order of ITAT set aside.
Diallowance of expenses after estimation of profit u/s 144 - ITAT deleted the additions - It is not required for the AO to apply net profit at a particular rate while finalising the assessment u/s144 of the Act. Method for estimating the income in the previous year of the assessee on the basis of net profit at a particular rate cannot be applied for all subsequent years - Order of ITAT set aside.
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