Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The ITAT Bangalore addressed unexplained cash deposits u/s 69A, focusing on the credibility of earlier withdrawals as a source for redeposits. The Tribunal examined fund flow and cash flow statements, presuming cash availability for redeposit. The assessee deposited sums during demonetization, providing bank account details, rent agreements, and rental income confirmation. The assessee explained using earlier withdrawals and tenant payments for redeposits, supported by the case of S.R. Venkataratnam. The Tribunal ruled in favor of the assessee, allowing credit for cash withdrawals and rental income towards bank deposits, deleting the addition for unexplained cash deposits during demonetization.
The ITAT Bangalore addressed unexplained cash deposits u/s 69A, focusing on the credibility of earlier withdrawals as a source for redeposits. The Tribunal examined fund flow and cash flow statements, presuming cash availability for redeposit. The assessee deposited sums during demonetization, providing bank account details, rent agreements, and rental income confirmation. The assessee explained using earlier withdrawals and tenant payments for redeposits, supported by the case of S.R. Venkataratnam. The Tribunal ruled in favor of the assessee, allowing credit for cash withdrawals and rental income towards bank deposits, deleting the addition for unexplained cash deposits during demonetization.
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