Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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Respondent declared miscellaneous income of Rs. 6 crores to IT Department. Department proposed service tax demand and penalty u/s 78(1) based on director's statement that income was from construction services. CESTAT held demand unsustainable as statement alone inadmissible without corroborative evidence. Department failed to produce evidence that income was from taxable services. Demand based on assumptions and presumptions. Original authority rightly dropped demand for lack of evidence. Department's appeal dismissed by CESTAT.
Respondent declared miscellaneous income of Rs. 6 crores to IT Department. Department proposed service tax demand and penalty u/s 78(1) based on director's statement that income was from construction services. CESTAT held demand unsustainable as statement alone inadmissible without corroborative evidence. Department failed to produce evidence that income was from taxable services. Demand based on assumptions and presumptions. Original authority rightly dropped demand for lack of evidence. Department's appeal dismissed by CESTAT.
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