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...
Cash deposit during demonetization period treated as unexplained cash credit u/s 68 - CIT(A) sustained addition u/s 69A based on lack of supporting evidence for cash receipts from nursing home. Assessee's claim of maintaining regular books and audit u/s 44AB not sufficient. Tribunal remanded for fresh examination by AO in light of precedent on abnormal cash trails indicating suspicion. Unsecured loan receipts - assessee failed to prove genuineness and creditworthiness of lenders. Remanded to AO for independent enquiry and decision after giving assessee opportunity. Addition as agricultural income - assessee's claim of acceptance in earlier years rejected as res judicata not applicable. Remanded to AO to examine evidence of agricultural income for the year. AO to follow principles of natural justice, fairness and preponderance of probabilities in enquiries.
Cash deposit during demonetization period treated as unexplained cash credit u/s 68 - CIT(A) sustained addition u/s 69A based on lack of supporting evidence for cash receipts from nursing home. Assessee's claim of maintaining regular books and audit u/s 44AB not sufficient. Tribunal remanded for fresh examination by AO in light of precedent on abnormal cash trails indicating suspicion. Unsecured loan receipts - assessee failed to prove genuineness and creditworthiness of lenders. Remanded to AO for independent enquiry and decision after giving assessee opportunity. Addition as agricultural income - assessee's claim of acceptance in earlier years rejected as res judicata not applicable. Remanded to AO to examine evidence of agricultural income for the year. AO to follow principles of natural justice, fairness and preponderance of probabilities in enquiries.
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