Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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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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