Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed matter to DVO for fair market value determination, as circle rate adoption was disputed. Addition for alleged cash receipt was deleted due to lack of evidence and timing of property registration falling in subsequent assessment year. Regarding construction costs, cash flow statement requires AO's factual examination. Additions based on loose slips were deleted as documents lacked dates and definitive connection to assessment year. For s.68 addition concerning loan transaction, matter restored to AO for de novo adjudication considering assessee's explanation about generator sale. ITAT emphasized need for proper verification and evidence before making additions.
ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed matter to DVO for fair market value determination, as circle rate adoption was disputed. Addition for alleged cash receipt was deleted due to lack of evidence and timing of property registration falling in subsequent assessment year. Regarding construction costs, cash flow statement requires AO's factual examination. Additions based on loose slips were deleted as documents lacked dates and definitive connection to assessment year. For s.68 addition concerning loan transaction, matter restored to AO for de novo adjudication considering assessee's explanation about generator sale. ITAT emphasized need for proper verification and evidence before making additions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
