Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Addition of fixed deposits and interest thereon in wife's name was deleted as the Revenue could not controvert that the deposits belonged to the assessee's wife from her marriage gift. Addition of silverware weighing 33 kgs was deleted as the assessee's wife owned these assets gifted by her father. Estimated marriage expenses were restricted to Rs. 3 lakhs instead of Rs. 5 lakhs estimated by AO. Personal drawings addition was limited to Rs. 2.7 lakhs for rental payments instead of Rs. 8.05 lakhs estimated by AO. Advance tax payments of Rs. 1.3 lakhs, foreign trip expenses, and bank deposits additions were upheld. Investment of Rs. 3 lakhs in Himalaya Benefit Fund and consequential interest of Rs. 4.77 lakhs were confirmed as undisclosed income. Additions based on materials from Enforcement Directorate regarding transponder hire charges of Rs. 2.24 crores, transponder hire facility payments, purchase of equipment abroad and Malaysian Ringgits were deleted as relatable to the company.
Addition of fixed deposits and interest thereon in wife's name was deleted as the Revenue could not controvert that the deposits belonged to the assessee's wife from her marriage gift. Addition of silverware weighing 33 kgs was deleted as the assessee's wife owned these assets gifted by her father. Estimated marriage expenses were restricted to Rs. 3 lakhs instead of Rs. 5 lakhs estimated by AO. Personal drawings addition was limited to Rs. 2.7 lakhs for rental payments instead of Rs. 8.05 lakhs estimated by AO. Advance tax payments of Rs. 1.3 lakhs, foreign trip expenses, and bank deposits additions were upheld. Investment of Rs. 3 lakhs in Himalaya Benefit Fund and consequential interest of Rs. 4.77 lakhs were confirmed as undisclosed income. Additions based on materials from Enforcement Directorate regarding transponder hire charges of Rs. 2.24 crores, transponder hire facility payments, purchase of equipment abroad and Malaysian Ringgits were deleted as relatable to the company.
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