Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Determination of turnover - scope of section 44AA and 44AB - failure to maintain books of accounts - failure to get accounts audited - speculative transactions on NCDEX/MCX commodity exchange - turnover of about 27 crores - net loss is about 3.60 lacs - the turnover has to be determined by taking the aggregate of both positive and negative differences arising from such speculative transactions and as an outcome of settlement of such contracts during the year which in the instant case comes to ₹ 3.60 lakhs. - No penalty - AT
Determination of turnover - scope of section 44AA and 44AB - failure to maintain books of accounts - failure to get accounts audited - speculative transactions on NCDEX/MCX commodity exchange - turnover of about 27 crores - net loss is about 3.60 lacs - the turnover has to be determined by taking the aggregate of both positive and negative differences arising from such speculative transactions and as an outcome of settlement of such contracts during the year which in the instant case comes to ₹ 3.60 lakhs. - No penalty - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
