Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined the arguments and evidence presented by both parties. It held that the responsibility of the firm ends once it provides satisfactory evidence regarding the introduction of capital by its partners. The Tribunal cited precedents where it was established that once the partner invests capital, the burden shifts to that individual to explain the source of the investment. Therefore, the Tribunal directed the deletion of the addition made by the AO.
Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined the arguments and evidence presented by both parties. It held that the responsibility of the firm ends once it provides satisfactory evidence regarding the introduction of capital by its partners. The Tribunal cited precedents where it was established that once the partner invests capital, the burden shifts to that individual to explain the source of the investment. Therefore, the Tribunal directed the deletion of the addition made by the AO.
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