Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Additions on account of profit on the sale of machinery of a closed-down unit. - The court held that reducing the block assets by the amount representing the sale of some assets was in accordance with Section 43(6)(c)(i)(B) of the Income Tax Act, 1961. Therefore, the deductions were allowed, and these questions were answered in favor of the assessee and against the revenue. - HC
Additions on account of profit on the sale of machinery of a closed-down unit. - The court held that reducing the block assets by the amount representing the sale of some assets was in accordance with Section 43(6)(c)(i)(B) of the Income Tax Act, 1961. Therefore, the deductions were allowed, and these questions were answered in favor of the assessee and against the revenue. - HC
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