Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from office bearers - AO held amount in sale deed is society's unexplained investment, not office bearers' undisclosed income. IBS noted society had no income for land purchase and no society reference in seized material. IBS accepted trustees' additional income utilized for society's land investment, trustees found with unaccounted money, not society. CIT(A) erred in observing no evidence of money flow from trustees when mobile data showed trustees' unaccounted money. Source investment can't be taxed again in society's hands after being taxed in trustees' hands. Non-submission of statements not controverted by department. No evidence of cash flow spent elsewhere, onus on AO to prove. Based on seized documents, trustees' unaccounted money paid for society's land can't be added to society's income. Ground allowed.
Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from office bearers - AO held amount in sale deed is society's unexplained investment, not office bearers' undisclosed income. IBS noted society had no income for land purchase and no society reference in seized material. IBS accepted trustees' additional income utilized for society's land investment, trustees found with unaccounted money, not society. CIT(A) erred in observing no evidence of money flow from trustees when mobile data showed trustees' unaccounted money. Source investment can't be taxed again in society's hands after being taxed in trustees' hands. Non-submission of statements not controverted by department. No evidence of cash flow spent elsewhere, onus on AO to prove. Based on seized documents, trustees' unaccounted money paid for society's land can't be added to society's income. Ground allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
