Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
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Addition u/s 40A - purchases in cash in excess of ₹ 20,000/ - case of the assessee that all the cash purchase are fully covered under Rule 6DD(e)(ii) of the Income Tax Rules, as many venders do not have bank account and the purchases were done away from remote areas - whether assessee has fulfilled the condition laid down in Rule 6DD? - The Tribunal noted that the appellant had indeed made substantial cash purchases but found merit in the argument that these were covered under Rule 6DD, considering the nature of the business and the vendors' circumstances.
Addition u/s 40A - purchases in cash in excess of ₹ 20,000/ - case of the assessee that all the cash purchase are fully covered under Rule 6DD(e)(ii) of the Income Tax Rules, as many venders do not have bank account and the purchases were done away from remote areas - whether assessee has fulfilled the condition laid down in Rule 6DD? - The Tribunal noted that the appellant had indeed made substantial cash purchases but found merit in the argument that these were covered under Rule 6DD, considering the nature of the business and the vendors' circumstances.
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