Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
The appellant could not establish the source for cash deposits during demonetization. The Appellate Tribunal held that sales cannot be rejected solely based on higher sales compared to previous periods. The explanation of receiving cash from customers for jewelry sales was considered reasonable. The appellant provided evidence of sufficient cash withdrawals before demonetization, supporting the cash deposits. The Tribunal found the explanation satisfactory, citing a precedent. The Tribunal upheld the deletion of additions by the Commissioner, dismissing the revenue's appeal.
The appellant could not establish the source for cash deposits during demonetization. The Appellate Tribunal held that sales cannot be rejected solely based on higher sales compared to previous periods. The explanation of receiving cash from customers for jewelry sales was considered reasonable. The appellant provided evidence of sufficient cash withdrawals before demonetization, supporting the cash deposits. The Tribunal found the explanation satisfactory, citing a precedent. The Tribunal upheld the deletion of additions by the Commissioner, dismissing the revenue's appeal.
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TaxTMI 
TaxTMI 
of 4886 
