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...
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The ITAT deleted additions based on loose papers containing coded figures, finding them to be mere scribbling without corroborative evidence to establish actual receipt of funds. The Tribunal confirmed deletion of cash seizure addition as the assessee had already disclosed Rs. 90 lacs against Rs. 8.93 lacs seized. Profit from sale of agricultural land was held exempt as evidence confirmed rural agricultural status outside municipal limits. Fresh credits were deleted as the assessee fulfilled Section 68 requirements by providing balance confirmations with PAN details. The Tribunal deleted jewelry addition by applying CBDT Instruction No.1916, which provides concessions for family members' jewelry holdings. Business-related expenses were allowed as they related to income-earning activities, while certain house property interest was disallowed for lack of supporting evidence.
The ITAT deleted additions based on loose papers containing coded figures, finding them to be mere scribbling without corroborative evidence to establish actual receipt of funds. The Tribunal confirmed deletion of cash seizure addition as the assessee had already disclosed Rs. 90 lacs against Rs. 8.93 lacs seized. Profit from sale of agricultural land was held exempt as evidence confirmed rural agricultural status outside municipal limits. Fresh credits were deleted as the assessee fulfilled Section 68 requirements by providing balance confirmations with PAN details. The Tribunal deleted jewelry addition by applying CBDT Instruction No.1916, which provides concessions for family members' jewelry holdings. Business-related expenses were allowed as they related to income-earning activities, while certain house property interest was disallowed for lack of supporting evidence.
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