Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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Deemed dividend u/s 2(22)(e) was added by the Assessing Officer (AO) on the grounds that the assessee, a director and substantial shareholder in a private company, had received a loan from the company. The assessee contended that the provisions apply only to actual cash payments, not journal entries. The Tribunal observed that the addition was based on advances presented as mere journal entries, suggesting no actual loan was received. The assessee consistently explained this before the authorities, but it was not adequately examined. The Tribunal held that since the assessee's contention of no sum being received, only a journal entry passed, was not verified, the CIT(A)'s order was liable to be set aside for lack of findings on this crucial aspect. The assessee's appeal was allowed.
Deemed dividend u/s 2(22)(e) was added by the Assessing Officer (AO) on the grounds that the assessee, a director and substantial shareholder in a private company, had received a loan from the company. The assessee contended that the provisions apply only to actual cash payments, not journal entries. The Tribunal observed that the addition was based on advances presented as mere journal entries, suggesting no actual loan was received. The assessee consistently explained this before the authorities, but it was not adequately examined. The Tribunal held that since the assessee's contention of no sum being received, only a journal entry passed, was not verified, the CIT(A)'s order was liable to be set aside for lack of findings on this crucial aspect. The assessee's appeal was allowed.
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