Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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Unexplained investment u/s. 69 - Non maintenance of books of accounts - When the AO accepted part of her explanation and required the assessee to prove the sources of the remaining deposits, the assessee took a different stand and canvassed that her income is from real estate business and it is covered u/s 44AD etc. However, she has not let any material/ evidences before the lower authorities to prove that she was in the real estate business. It is clear that the assessee has been inconsistent about the nature of sources of the impugned cash credits. - Additions confirmed - AT
Unexplained investment u/s. 69 - Non maintenance of books of accounts - When the AO accepted part of her explanation and required the assessee to prove the sources of the remaining deposits, the assessee took a different stand and canvassed that her income is from real estate business and it is covered u/s 44AD etc. However, she has not let any material/ evidences before the lower authorities to prove that she was in the real estate business. It is clear that the assessee has been inconsistent about the nature of sources of the impugned cash credits. - Additions confirmed - AT
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