Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Unexplained money - amount received from his father-in-law - If the CIT(A) was not satisfied with the source, he could have enquired into the matter by issuing notice to the legal representatives of the assessee's father-in-law. Admittedly, no such enquiry was conducted. Therefore, additions could not have been sustained by the CIT(A) based on surmises and incorrect application of law- HC
Unexplained money - amount received from his father-in-law - If the CIT(A) was not satisfied with the source, he could have enquired into the matter by issuing notice to the legal representatives of the assessee's father-in-law. Admittedly, no such enquiry was conducted. Therefore, additions could not have been sustained by the CIT(A) based on surmises and incorrect application of law- HC
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