Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Unexplained cash credit u/s 68 - submission of assessee that he used to collect commission for sending the cash through his account to the relatives of various persons in Bihar - No such verification of fact if the amount deposited in the bank account of the assessee was withdrawn locally or such withdrawal was really made in Bihar or Eastern UP, as claimed by the appellant. Such facts of withdrawal could be cross verified from the banker of assessee. - Matter restored back - AT
Unexplained cash credit u/s 68 - submission of assessee that he used to collect commission for sending the cash through his account to the relatives of various persons in Bihar - No such verification of fact if the amount deposited in the bank account of the assessee was withdrawn locally or such withdrawal was really made in Bihar or Eastern UP, as claimed by the appellant. Such facts of withdrawal could be cross verified from the banker of assessee. - Matter restored back - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
