Coercive recovery during GST searches is restrained pending scrutiny, preserving normal business operations and requiring adherence to investigation g...
COVID-19 limitation exclusion and destination-specific e-way bills govern revisional timelines and penalties for undocumented third-party plywood deli...
Questions arising from miscellaneous application orders cannot challenge unaltered Tribunal findings, leaving the original order separately challengea...
Transfer-pricing comparability filters require fresh arm's-length analysis, while delayed receivables need separate reconsideration with working-capit...
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The ITAT Delhi held that the CIT(A) erred in not conducting a proper enquiry into the unexplained credit u/s 68. The AO and CIT(A) have a duty to investigate thoroughly. The CIT(A) should not have dismissed the AO's concerns without further enquiry. The creditworthiness of the share applicant was not proven, and the CIT(A) failed to consider vital aspects. The order of the CIT(A) was set aside for proper re-examination. Section 251 grants wide powers to the CIT(A) to enhance assessments. The CIT(A) has extraordinary powers to examine all aspects of an issue. The CIT(A) should have conducted necessary inquiries to determine taxability accurately. The appeal of the Revenue was allowed for statistical purposes.
The ITAT Delhi held that the CIT(A) erred in not conducting a proper enquiry into the unexplained credit u/s 68. The AO and CIT(A) have a duty to investigate thoroughly. The CIT(A) should not have dismissed the AO's concerns without further enquiry. The creditworthiness of the share applicant was not proven, and the CIT(A) failed to consider vital aspects. The order of the CIT(A) was set aside for proper re-examination. Section 251 grants wide powers to the CIT(A) to enhance assessments. The CIT(A) has extraordinary powers to examine all aspects of an issue. The CIT(A) should have conducted necessary inquiries to determine taxability accurately. The appeal of the Revenue was allowed for statistical purposes.
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