Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
The Commissioner of Income Tax (Appeals) confirmed additions from unsecured loans and capital introduced by the assessee during demonetization. The Assessing Officer failed to make inquiries regarding the same, rendering the addition unsustainable. The assessee claimed consideration from jewelry sales, declared as taxable capital gains, and past savings for capital introduced in the proprietary concern. The creditworthiness was proved, and cash deposits from business receipts cannot be concluded as loans. The Commissioner of Income Tax (Appeals) deleted an amount regarding a cheque transaction after examining purchase bills, confirmations, and Income Tax Returns. The assessee provided cash books, sales and purchase books, expense ledgers, loan confirmations, and stock registers. The Income Tax Appellate Tribunal allowed the assessee's appeal and dismissed the revenue's appeal.
The Commissioner of Income Tax (Appeals) confirmed additions from unsecured loans and capital introduced by the assessee during demonetization. The Assessing Officer failed to make inquiries regarding the same, rendering the addition unsustainable. The assessee claimed consideration from jewelry sales, declared as taxable capital gains, and past savings for capital introduced in the proprietary concern. The creditworthiness was proved, and cash deposits from business receipts cannot be concluded as loans. The Commissioner of Income Tax (Appeals) deleted an amount regarding a cheque transaction after examining purchase bills, confirmations, and Income Tax Returns. The assessee provided cash books, sales and purchase books, expense ledgers, loan confirmations, and stock registers. The Income Tax Appellate Tribunal allowed the assessee's appeal and dismissed the revenue's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
