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 partially allowed the appeal concerning disputed agricultural income and cash deposits during demonetization. The addition of differential agricultural income was deleted as the original return was processed under s.143(1) and not scrutinized. Regarding unexplained cash credits under s.68, ITAT upheld the addition based on lack of evidence for agricultural activity but acknowledged legitimate business transactions from retail trading. The Tribunal rejected retrospective application of enhanced tax rates under s.115BBE, directing taxation at normal rates with applicable surcharges. The assessee's retail business "Shreeji Paints & Ply" provided partial justification for cash deposits, resulting in partial relief against the additions made by the AO.
ITAT partially allowed the appeal concerning disputed agricultural income and cash deposits during demonetization. The addition of differential agricultural income was deleted as the original return was processed under s.143(1) and not scrutinized. Regarding unexplained cash credits under s.68, ITAT upheld the addition based on lack of evidence for agricultural activity but acknowledged legitimate business transactions from retail trading. The Tribunal rejected retrospective application of enhanced tax rates under s.115BBE, directing taxation at normal rates with applicable surcharges. The assessee's retail business "Shreeji Paints & Ply" provided partial justification for cash deposits, resulting in partial relief against the additions made by the AO.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
