Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
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...
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Addition u/s 68 - ITAT confirmed the additions - The High Court upheld the Tribunal's decision, affirming the dismissal of the appeal. It concurred with the Tribunal's analysis, emphasizing that the assessment of income tax is a civil proceeding, wherein the test of preponderance of probability is applicable. The Court agreed that the explanation provided by the appellant regarding the gifts lacked sufficient evidence of genuineness. It noted the absence of any disclosed basis or relationship for the gifts, reinforcing the Tribunal's decision.
Addition u/s 68 - ITAT confirmed the additions - The High Court upheld the Tribunal's decision, affirming the dismissal of the appeal. It concurred with the Tribunal's analysis, emphasizing that the assessment of income tax is a civil proceeding, wherein the test of preponderance of probability is applicable. The Court agreed that the explanation provided by the appellant regarding the gifts lacked sufficient evidence of genuineness. It noted the absence of any disclosed basis or relationship for the gifts, reinforcing the Tribunal's decision.
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