Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Addition u/s 69 - Cash/credit deposit in the bank account - Assessment u/s 44AD - The ITAT supported the FAA’s enhancement of the addition. The assessee's failure to provide credible evidence for the cash deposits led to the conclusion that these were indeed unaccounted income. - The Tribunal agreed with the FAA's skepticism regarding the transactions with Krish Builders. The improbability of the alleged business activities, coupled with the lack of substantial evidence, justified the addition.
Addition u/s 69 - Cash/credit deposit in the bank account - Assessment u/s 44AD - The ITAT supported the FAA’s enhancement of the addition. The assessee's failure to provide credible evidence for the cash deposits led to the conclusion that these were indeed unaccounted income. - The Tribunal agreed with the FAA's skepticism regarding the transactions with Krish Builders. The improbability of the alleged business activities, coupled with the lack of substantial evidence, justified the addition.
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