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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Unexplained expenditure - certain entries were found unmatched / not accounted for in the books of accounts in the expense ledger of the assessee - The assessee contended that the expenses were accounted for but not individually, and were incurred by employees at respective sites, later reimbursed by the assessee. However, the Tribunal (ITAT) found the explanation insufficient, emphasizing the need for proper documentation and evidence. While partially allowing the appeal, the tribunal imposed a restricted disallowance of 25% of the amount determined by the AO.
Unexplained expenditure - certain entries were found unmatched / not accounted for in the books of accounts in the expense ledger of the assessee - The assessee contended that the expenses were accounted for but not individually, and were incurred by employees at respective sites, later reimbursed by the assessee. However, the Tribunal (ITAT) found the explanation insufficient, emphasizing the need for proper documentation and evidence. While partially allowing the appeal, the tribunal imposed a restricted disallowance of 25% of the amount determined by the AO.
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