Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Validity of reopening the assessment u/s 147 - Additions u/s 68 and u/s 69A - Cash deposits in assessee’s bank account - The ITAT observed that, the AO was satisfied that the assessee owned agricultural land and sold the same during this assessment year - The Tribunal concluded that the reopening of the assessment was valid, but the additions made by the AO and CIT(A) were not justified as the assessee had sufficiently explained the source of cash deposits. The appeal was partly allowed, and the additions made u/s 68 and 69A were set aside.
Validity of reopening the assessment u/s 147 - Additions u/s 68 and u/s 69A - Cash deposits in assessee’s bank account - The ITAT observed that, the AO was satisfied that the assessee owned agricultural land and sold the same during this assessment year - The Tribunal concluded that the reopening of the assessment was valid, but the additions made by the AO and CIT(A) were not justified as the assessee had sufficiently explained the source of cash deposits. The appeal was partly allowed, and the additions made u/s 68 and 69A were set aside.
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