Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Deposits of demonetized currencies - substantial increase in cash sales - The Assessing Officer highlighted instances of negative closing stock figures in the gold jewels register, indicating possible bogus sales. - The ITAT held that, it is the duty of the assessee to establish that there is sufficient stock available with the assessee and subsequently, sale was made. Thus, the preponderance of probability in favour of the assessee cannot be applied in this case.
Deposits of demonetized currencies - substantial increase in cash sales - The Assessing Officer highlighted instances of negative closing stock figures in the gold jewels register, indicating possible bogus sales. - The ITAT held that, it is the duty of the assessee to establish that there is sufficient stock available with the assessee and subsequently, sale was made. Thus, the preponderance of probability in favour of the assessee cannot be applied in this case.
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