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...
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Income from other sources u/s 56 (2) (x) - purchased the property - difference between the valuation adopted by the district valuation officer and actual consideration - While the appellant asserts the necessity of establishing "on money" payments to warrant taxation under the Act, the tribunal maintains that the absence of such evidence does not preclude the application of anti-avoidance provisions. - The tribunal upholds the decision of the CIT(A) to confirm the addition u/s 56(2)(x)(b), holding the appellant liable for the additional tax resulting from the disputed property valuation.
Income from other sources u/s 56 (2) (x) - purchased the property - difference between the valuation adopted by the district valuation officer and actual consideration - While the appellant asserts the necessity of establishing "on money" payments to warrant taxation under the Act, the tribunal maintains that the absence of such evidence does not preclude the application of anti-avoidance provisions. - The tribunal upholds the decision of the CIT(A) to confirm the addition u/s 56(2)(x)(b), holding the appellant liable for the additional tax resulting from the disputed property valuation.
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