Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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...
Addition u/s 68 - bogus share application/allotment money - The Court noted the factual examination done by the Commissioner of Income Tax (Appeals) regarding the share capital of the companies involved. It found that the share capital raised by one of the companies in the assessment year 2009-10 had already been added back in the hands of the party, indicating its genuineness. The Court upheld the action of the Commissioner of Income Tax (Appeals) and ITAT in deleting the additions.
Addition u/s 68 - bogus share application/allotment money - The Court noted the factual examination done by the Commissioner of Income Tax (Appeals) regarding the share capital of the companies involved. It found that the share capital raised by one of the companies in the assessment year 2009-10 had already been added back in the hands of the party, indicating its genuineness. The Court upheld the action of the Commissioner of Income Tax (Appeals) and ITAT in deleting the additions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
