Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Penalty u/s 271D - loan in cash otherwise than an account payee cheque or draft - Assessee has placed on record only the ledger account, from that it is not clear whether the said transactions are considered as loan or the accommodative transactions or sales. It is also not clear whether the employer has received the cheque amount as sales consideration or as the amount as loan to employee in the books of the employer. This basic finding of the fact is not emanating from the records made available. - Matter restored back - AT
Penalty u/s 271D - loan in cash otherwise than an account payee cheque or draft - Assessee has placed on record only the ledger account, from that it is not clear whether the said transactions are considered as loan or the accommodative transactions or sales. It is also not clear whether the employer has received the cheque amount as sales consideration or as the amount as loan to employee in the books of the employer. This basic finding of the fact is not emanating from the records made available. - Matter restored back - AT
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