Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Unexplained creditor u/s. 68 - onus to prove - The ITAT ruled that once the identity of the creditor and the genuineness of the transaction are established, proving the creditor's capacity is not mandatory for the assessee. This is supported by the precedent set in "Labh Chand Bohra Vs. ITO" by the Rajasthan High Court, aligning with the doctrine that the onus shifts away from the assessee once the initial proof of transaction is provided.
Unexplained creditor u/s. 68 - onus to prove - The ITAT ruled that once the identity of the creditor and the genuineness of the transaction are established, proving the creditor's capacity is not mandatory for the assessee. This is supported by the precedent set in "Labh Chand Bohra Vs. ITO" by the Rajasthan High Court, aligning with the doctrine that the onus shifts away from the assessee once the initial proof of transaction is provided.
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