Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Assessee failed to file return of income u/s 139 but received notice u/s 148. Despite opting for presumptive taxation scheme u/s 44AD, which does not require maintaining books of accounts, assessee was liable to maintain books as stipulated u/s 44AA. Assessee cannot claim benefit of not complying with Section 68 regarding unexplained cash deposits in bank account. Assessee was required to explain sources, genuineness, and creditors' creditworthiness regarding cash deposits as per Section 68. Failing to do so, authorities rightly invoked Section 68 and added cash deposits as assessee's income under its deeming fiction. Case laws relied upon by assessee were decided on their own facts and inapplicable. Assessee's appeal dismissed.
Assessee failed to file return of income u/s 139 but received notice u/s 148. Despite opting for presumptive taxation scheme u/s 44AD, which does not require maintaining books of accounts, assessee was liable to maintain books as stipulated u/s 44AA. Assessee cannot claim benefit of not complying with Section 68 regarding unexplained cash deposits in bank account. Assessee was required to explain sources, genuineness, and creditors' creditworthiness regarding cash deposits as per Section 68. Failing to do so, authorities rightly invoked Section 68 and added cash deposits as assessee's income under its deeming fiction. Case laws relied upon by assessee were decided on their own facts and inapplicable. Assessee's appeal dismissed.
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