Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
In the case before ITAT Delhi, the issue revolved around the computation of commission income on credit entries and unexplained cash credit u/s 68. The assessee failed to substantiate the source of cash deposits but argued that he has only earned commission income on the entries provided by him. The Tribunal, considering previous rulings, treated the assessee as an Entry Operator and determined commission at 0.15% on the disputed amount. The AO was directed to charge commission accordingly.
In the case before ITAT Delhi, the issue revolved around the computation of commission income on credit entries and unexplained cash credit u/s 68. The assessee failed to substantiate the source of cash deposits but argued that he has only earned commission income on the entries provided by him. The Tribunal, considering previous rulings, treated the assessee as an Entry Operator and determined commission at 0.15% on the disputed amount. The AO was directed to charge commission accordingly.
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