Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Addition of bogus sales - difference in opinion between learned Members constituting the bench - The appellate tribunal (Third Member) addressed the dispute arising from alleged bogus sales transactions during the demonetization period. The Assessing Officer treated these transactions as unexplained cash credit under Section 68 of the Income Tax Act. However, the Tribunal found that the assessee sufficiently proved the authenticity of the sales through meticulous record-keeping and documentary evidence, despite challenges such as non-responses from some parties and allegations of sham transactions. - The Third Member upheld the decision of the learned Accountant Member to reject the addition under Section 68, considering the adequacy of evidence presented by the assessee.
Addition of bogus sales - difference in opinion between learned Members constituting the bench - The appellate tribunal (Third Member) addressed the dispute arising from alleged bogus sales transactions during the demonetization period. The Assessing Officer treated these transactions as unexplained cash credit under Section 68 of the Income Tax Act. However, the Tribunal found that the assessee sufficiently proved the authenticity of the sales through meticulous record-keeping and documentary evidence, despite challenges such as non-responses from some parties and allegations of sham transactions. - The Third Member upheld the decision of the learned Accountant Member to reject the addition under Section 68, considering the adequacy of evidence presented by the assessee.
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