Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Unsecured loans - Additions u/s 69 as unexplained expenditure - the tribunal finds that the ld. CIT(A) rightly deleted the impugned additions as the AO failed to establish that the loss on occasion of share trading was a bogus or sham loss claimed. The second ground relates to the deletion of an addition made by the AO in respect of gross profit, and the tribunal finds that there was no difference in the amount of gross profit declared by the assessee and computed by the AO. Therefore, the tribunal dismisses the appeal of the Revenue. - AT
Unsecured loans - Additions u/s 69 as unexplained expenditure - the tribunal finds that the ld. CIT(A) rightly deleted the impugned additions as the AO failed to establish that the loss on occasion of share trading was a bogus or sham loss claimed. The second ground relates to the deletion of an addition made by the AO in respect of gross profit, and the tribunal finds that there was no difference in the amount of gross profit declared by the assessee and computed by the AO. Therefore, the tribunal dismisses the appeal of the Revenue. - AT
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