Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
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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