Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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The ITAT Delhi addressed the taxability of certain creditors as unexplained liabilities. It was found that liabilities of G.G.Telecrest Pvt. Ltd. and Uttam Strips Pvt. Ltd. should be classified as loans/advances, not creditors. The liabilities of these parties require further investigation. The issue was remitted back to the AO for reconsideration. For other creditors, where no details or confirmation were provided, the addition was upheld. Disallowance of commission expenses u/s 40(a)(ia) and taxability of cash deposits were also addressed, with the findings of the CIT(A) upheld due to lack of contradicting evidence. The appeal of the assessee was partly allowed.
The ITAT Delhi addressed the taxability of certain creditors as unexplained liabilities. It was found that liabilities of G.G.Telecrest Pvt. Ltd. and Uttam Strips Pvt. Ltd. should be classified as loans/advances, not creditors. The liabilities of these parties require further investigation. The issue was remitted back to the AO for reconsideration. For other creditors, where no details or confirmation were provided, the addition was upheld. Disallowance of commission expenses u/s 40(a)(ia) and taxability of cash deposits were also addressed, with the findings of the CIT(A) upheld due to lack of contradicting evidence. The appeal of the assessee was partly allowed.
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