Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
The ITAT Visakhapatnam addressed an addition u/s 69A for unexplained cash deposits in the bank account. The assessee failed to explain the sources for cash deposits, leading to scrutiny under CASS. The tribunal found that deposits made before demonetisation were included beyond the limited scrutiny scope. Cash deposits during demonetisation were claimed as gifts from parents. Partial relief was granted based on CBDT Instruction No.03/2017, allowing relief for deposits up to specified limits without further verification. Further relief of Rs. 5,00,000 was granted for pre-demonetisation deposits, while the remaining addition was upheld due to lack of evidence on transactions during demonetisation. The tribunal partly allowed the assessee's grounds.
The ITAT Visakhapatnam addressed an addition u/s 69A for unexplained cash deposits in the bank account. The assessee failed to explain the sources for cash deposits, leading to scrutiny under CASS. The tribunal found that deposits made before demonetisation were included beyond the limited scrutiny scope. Cash deposits during demonetisation were claimed as gifts from parents. Partial relief was granted based on CBDT Instruction No.03/2017, allowing relief for deposits up to specified limits without further verification. Further relief of Rs. 5,00,000 was granted for pre-demonetisation deposits, while the remaining addition was upheld due to lack of evidence on transactions during demonetisation. The tribunal partly allowed the assessee's grounds.
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