Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Unexplained cash credits u/s. 68 - taxability u/s. 115BBE - once the nature and source of credit found in the books of accounts of the assessee is linked to business, then any income generated out of such business activity is assessable under the head income from business and profession alone, but not under the provisions of section 68 of the Act. - Taxable under normal rate of tax applicable to firms. - AT
Unexplained cash credits u/s. 68 - taxability u/s. 115BBE - once the nature and source of credit found in the books of accounts of the assessee is linked to business, then any income generated out of such business activity is assessable under the head income from business and profession alone, but not under the provisions of section 68 of the Act. - Taxable under normal rate of tax applicable to firms. - AT
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