Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The Appellate Tribunal addressed the issue of addition u/s 69A with reference to cash deposits during demonetization. The assessee failed to establish the source of these deposits into a bank account, contrary to RBI and Government directives. However, the Tribunal found that the assessee, engaged in the dhall mill business, had consistent cash sales with no abnormal increase during demonetization. The assessee provided evidence of cash on hand before demonetization and claimed to have received demonetized currency from customers post the specified date. The Tribunal held that the assessee's explanation for the cash deposits was genuine and acceptable, considering the nature of the business and submitted evidence. The AO and CIT(A) were criticized for not duly considering the relevant submissions, leading to the allowance of the assessee's appeal.
The Appellate Tribunal addressed the issue of addition u/s 69A with reference to cash deposits during demonetization. The assessee failed to establish the source of these deposits into a bank account, contrary to RBI and Government directives. However, the Tribunal found that the assessee, engaged in the dhall mill business, had consistent cash sales with no abnormal increase during demonetization. The assessee provided evidence of cash on hand before demonetization and claimed to have received demonetized currency from customers post the specified date. The Tribunal held that the assessee's explanation for the cash deposits was genuine and acceptable, considering the nature of the business and submitted evidence. The AO and CIT(A) were criticized for not duly considering the relevant submissions, leading to the allowance of the assessee's appeal.
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