Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Penalty u/s 271(1)(c) - addition of peak cash credit - sale and purchase of old vehicles - addition confirmed by the CIT(A) on the basis of estimation/preponderance of possibilities of introducing some unaccounted income into the bank account - there was no reliable or un-rebutted evidences on the file to prove that the assessee had actually furnished inaccurate particulars of income or concealed particulars of his income - no penalty
Penalty u/s 271(1)(c) - addition of peak cash credit - sale and purchase of old vehicles - addition confirmed by the CIT(A) on the basis of estimation/preponderance of possibilities of introducing some unaccounted income into the bank account - there was no reliable or un-rebutted evidences on the file to prove that the assessee had actually furnished inaccurate particulars of income or concealed particulars of his income - no penalty
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