PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT upheld partial rejection of books under s.145(3) due to unverifiable self-made cash vouchers, though specific quantification was lacking. Given turnover of Rs.4,00,48,401 showing only 4% variance from previous year, ITAT confirmed addition of Rs.1,00,000 despite assessee's tax audit report and claimed receipted vouchers. On interest income from JSPL reflected under business income, matter remanded to AO for verification whether funds were invested for business expediency rather than mere surplus fund investment to determine appropriate head of income classification between business income versus income from other sources. Addition sustained but limited to Rs.1,00,000 considering overall circumstances and to end protracted litigation.
ITAT upheld partial rejection of books under s.145(3) due to unverifiable self-made cash vouchers, though specific quantification was lacking. Given turnover of Rs.4,00,48,401 showing only 4% variance from previous year, ITAT confirmed addition of Rs.1,00,000 despite assessee's tax audit report and claimed receipted vouchers. On interest income from JSPL reflected under business income, matter remanded to AO for verification whether funds were invested for business expediency rather than mere surplus fund investment to determine appropriate head of income classification between business income versus income from other sources. Addition sustained but limited to Rs.1,00,000 considering overall circumstances and to end protracted litigation.
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