Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The assessee received Rs. 125 lacs in cash from SGCFCL for facilitation work, which was not recorded in the books. The assessee claimed the amount was paid to 2500 shareholders, but failed to provide evidence of such payments. The onus was on the assessee to prove the impugned payment did not constitute income, which the assessee failed to discharge. The assessment was based on incriminating material and the assessee's statement admitting receipt of cash payment. The Appellate Tribunal upheld the assessment, rejecting the assessee's arguments.
The assessee received Rs. 125 lacs in cash from SGCFCL for facilitation work, which was not recorded in the books. The assessee claimed the amount was paid to 2500 shareholders, but failed to provide evidence of such payments. The onus was on the assessee to prove the impugned payment did not constitute income, which the assessee failed to discharge. The assessment was based on incriminating material and the assessee's statement admitting receipt of cash payment. The Appellate Tribunal upheld the assessment, rejecting the assessee's arguments.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
