Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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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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