Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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Cash deposits during the demonetization period were recorded in the books of accounts, with the source maintained. The Assessing Officer invoked Section 69A and charged tax u/s 115BBE, treating the deposits as unexplained money. However, Section 69A is applicable when the assessee is the owner of money, bullion, jewelry, or valuable articles not recorded from any source. Since the cash deposits were recorded with the source maintained, invoking Section 69A was incorrect. Consequently, the addition made by the Assessing Officer is liable to be deleted, and the decision is in favor of the assessee.
Cash deposits during the demonetization period were recorded in the books of accounts, with the source maintained. The Assessing Officer invoked Section 69A and charged tax u/s 115BBE, treating the deposits as unexplained money. However, Section 69A is applicable when the assessee is the owner of money, bullion, jewelry, or valuable articles not recorded from any source. Since the cash deposits were recorded with the source maintained, invoking Section 69A was incorrect. Consequently, the addition made by the Assessing Officer is liable to be deleted, and the decision is in favor of the assessee.
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