Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus entities involved in issuing fake invoices without actual delivery of goods. Despite the taxpayer’s claims of making payments through banking channels, the assessing officer found no credible evidence to support the genuineness of the transactions. Consequently, the Tribunal agreed with the lower authorities in treating these purchases as bogus but redirected the case to assess the exact profit element attributable to these transactions, aligning with the principle that only the profit margin on such bogus transactions should be added to taxable income.
Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus entities involved in issuing fake invoices without actual delivery of goods. Despite the taxpayer’s claims of making payments through banking channels, the assessing officer found no credible evidence to support the genuineness of the transactions. Consequently, the Tribunal agreed with the lower authorities in treating these purchases as bogus but redirected the case to assess the exact profit element attributable to these transactions, aligning with the principle that only the profit margin on such bogus transactions should be added to taxable income.
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