Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other sources’ which run contrary to the findings of Ld. CIT(A) that the assessee was in possession of land and it earned agricultural income out of the same. Simply because the assessee’s husband did not offer any agricultural income during the year, the assessee’s income could not be taken to be nil. Therefore, this addition has no legs to stand. - AT
Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other sources’ which run contrary to the findings of Ld. CIT(A) that the assessee was in possession of land and it earned agricultural income out of the same. Simply because the assessee’s husband did not offer any agricultural income during the year, the assessee’s income could not be taken to be nil. Therefore, this addition has no legs to stand. - AT
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