Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Cash payments exceeding Rs. 20,000 were made, and the assessee provided a statement on oath, affidavits from the vendor, and explanations about the vendor's father's ill health and jail term, as well as the precondition of cash payment for the land deal. The appellate authority erred in rejecting these submissions and not considering business expediency. Regarding development expenses, the assessing officer disallowed 10% due to lack of vouchers, which was reduced to 5% by the appellate authority. Since no further evidence was produced, the Appellate Tribunal declined to interfere with the appellate authority's order on this issue.
Cash payments exceeding Rs. 20,000 were made, and the assessee provided a statement on oath, affidavits from the vendor, and explanations about the vendor's father's ill health and jail term, as well as the precondition of cash payment for the land deal. The appellate authority erred in rejecting these submissions and not considering business expediency. Regarding development expenses, the assessing officer disallowed 10% due to lack of vouchers, which was reduced to 5% by the appellate authority. Since no further evidence was produced, the Appellate Tribunal declined to interfere with the appellate authority's order on this issue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
