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...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Additions u/s 68 - Unexplained Cash credit found in the bank account - The provisions of s. 68 & 69 use the word may indicating discretion conferred upon the AO by the statute, who is supposed to use such discretion judiciously and is not obliged always to make an addition - the saving of a meager Rs 2,50,000/- is not beyond the pre-ponderance of human probability so as to be disbelieved. - Additions deleted - AT
Additions u/s 68 - Unexplained Cash credit found in the bank account - The provisions of s. 68 & 69 use the word may indicating discretion conferred upon the AO by the statute, who is supposed to use such discretion judiciously and is not obliged always to make an addition - the saving of a meager Rs 2,50,000/- is not beyond the pre-ponderance of human probability so as to be disbelieved. - Additions deleted - AT
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