Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Addition u/s 69A (unexplained money) was deleted as the assessee explained the source for purchasing property from capital contribution by partners. Addition u/s 68 (cash credits) for consideration paid by cheque and stamp duty/registration charges was also deleted, as the contribution was received from partners through banking channels and their identities were established. The CIT(A)'s enhancement was reversed by the ITAT.
Addition u/s 69A (unexplained money) was deleted as the assessee explained the source for purchasing property from capital contribution by partners. Addition u/s 68 (cash credits) for consideration paid by cheque and stamp duty/registration charges was also deleted, as the contribution was received from partners through banking channels and their identities were established. The CIT(A)'s enhancement was reversed by the ITAT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
