Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating material was found during search, challenging the applicability of section 153A. Unexplained cash credit additions lacked proper investigation, leading to deletion of Rs. 3,70,000 addition. Income deposited in cash was declared and documented, leading to deletion of Rs. 10,50,000 addition. Addition u/s 68 was disputed, with relief granted by CIT(A). Disallowance of depreciation on vehicle was found baseless. CIT(A) upheld unexplained cash credit appeal, rejecting Department's challenge on genuineness. Overall, Department's appeal was dismissed due to lack of merit.
The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating material was found during search, challenging the applicability of section 153A. Unexplained cash credit additions lacked proper investigation, leading to deletion of Rs. 3,70,000 addition. Income deposited in cash was declared and documented, leading to deletion of Rs. 10,50,000 addition. Addition u/s 68 was disputed, with relief granted by CIT(A). Disallowance of depreciation on vehicle was found baseless. CIT(A) upheld unexplained cash credit appeal, rejecting Department's challenge on genuineness. Overall, Department's appeal was dismissed due to lack of merit.
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