Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
In the ITAT Delhi case, the Appellate Tribunal ruled in favor of the assessee on two key issues. Firstly, regarding unexplained cash deposits u/s 68, the AO's failure to consider cash balances and debtor realizations led to the addition being deemed unsustainable. The Tribunal directed the AO to delete the addition. Secondly, on the disallowance of interest paid u/s 36(1)(iii), the Tribunal accepted the assessee's argument that interest on bank loans is a business expenditure, given the assessee's history of real estate and finance business activities. The disallowance made by the AO was deleted based on the Tribunal's decision for the assessment year 2009-10, affirming the assessee's real estate business activities.
In the ITAT Delhi case, the Appellate Tribunal ruled in favor of the assessee on two key issues. Firstly, regarding unexplained cash deposits u/s 68, the AO's failure to consider cash balances and debtor realizations led to the addition being deemed unsustainable. The Tribunal directed the AO to delete the addition. Secondly, on the disallowance of interest paid u/s 36(1)(iii), the Tribunal accepted the assessee's argument that interest on bank loans is a business expenditure, given the assessee's history of real estate and finance business activities. The disallowance made by the AO was deleted based on the Tribunal's decision for the assessment year 2009-10, affirming the assessee's real estate business activities.
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