Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
Page of 4918
Press 'Enter' after typing page number.
101 to 120 of 98359 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT reversed AO's additions under s.68 for unexplained bank deposits, finding that while deposits were added as unexplained income, corresponding withdrawals from the same account were not considered in assessment. The tribunal held that additions were unsustainable given the pattern of deposits and withdrawals evidenced in bank statements. Additionally, penalty of Rs.10,000 imposed under s.271(1)(b) for non-appearance was deleted, as AO had provided unreasonably short notice period of one day for appearance. Both issues decided in favor of appellant, with tribunal emphasizing need to consider complete banking transaction patterns and provide reasonable compliance timeframes.
ITAT reversed AO's additions under s.68 for unexplained bank deposits, finding that while deposits were added as unexplained income, corresponding withdrawals from the same account were not considered in assessment. The tribunal held that additions were unsustainable given the pattern of deposits and withdrawals evidenced in bank statements. Additionally, penalty of Rs.10,000 imposed under s.271(1)(b) for non-appearance was deleted, as AO had provided unreasonably short notice period of one day for appearance. Both issues decided in favor of appellant, with tribunal emphasizing need to consider complete banking transaction patterns and provide reasonable compliance timeframes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
