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...
Page of 4916
Press 'Enter' after typing page number.
41 to 60 of 98302 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT upheld the CIT(A)'s deletion of additions made by the AO under s.68 regarding share application money/premium received from non-resident investors. The Tribunal found the assessee had sufficiently proved the identity and creditworthiness of investors and transaction genuineness. Regarding trade payables, the ITAT determined s.68 was inapplicable as the disputed amounts represented outstanding liabilities for purchases rather than unexplained credits in the assessee's books. Following Kulwinder Singh, the Tribunal confirmed that s.68 provisions do not apply to amounts representing credit purchases. The Revenue's appeal was accordingly dismissed on both grounds.
The ITAT upheld the CIT(A)'s deletion of additions made by the AO under s.68 regarding share application money/premium received from non-resident investors. The Tribunal found the assessee had sufficiently proved the identity and creditworthiness of investors and transaction genuineness. Regarding trade payables, the ITAT determined s.68 was inapplicable as the disputed amounts represented outstanding liabilities for purchases rather than unexplained credits in the assessee's books. Following Kulwinder Singh, the Tribunal confirmed that s.68 provisions do not apply to amounts representing credit purchases. The Revenue's appeal was accordingly dismissed on both grounds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
