Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Enhancement of assessment - Power of CIT(A) u/s 251(2) - addition u/s 56(2)(vii) - The appellant had received Rs. 25,00,000 as a security deposit from a developer, the amount was subsequently repaid - Providing / granting the appellant a reasonable opportunity to present their case against the enhancement - The Tribunal deemed this non-compliance as an irregularity rather than an illegality. However, the Tribunal decided to review the addition made under section 56(2)(vii) of the Act. It was determined that since the deposit received by the appellant was not without consideration, being related to a development agreement, the addition was not sustainable. Therefore, the appeal was allowed, and the impugned additions were directed to be deleted.
Enhancement of assessment - Power of CIT(A) u/s 251(2) - addition u/s 56(2)(vii) - The appellant had received Rs. 25,00,000 as a security deposit from a developer, the amount was subsequently repaid - Providing / granting the appellant a reasonable opportunity to present their case against the enhancement - The Tribunal deemed this non-compliance as an irregularity rather than an illegality. However, the Tribunal decided to review the addition made under section 56(2)(vii) of the Act. It was determined that since the deposit received by the appellant was not without consideration, being related to a development agreement, the addition was not sustainable. Therefore, the appeal was allowed, and the impugned additions were directed to be deleted.
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