Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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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