Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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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