Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
ITAT allowed taxpayer's appeal, finding cash payments for land purchase were genuine business transactions. The tribunal determined payments were made out of commercial necessity and complied with Rule 6DD exceptions. Cash deposits during demonetization were substantiated through assessee's cash book, which demonstrated advances against land/plot purchases. The appellate tribunal set aside the lower authority's order, directing the AO to delete the tax addition, effectively vindicating the taxpayer's accounting practices and validating the cash transactions as legitimate business expenditures.
ITAT allowed taxpayer's appeal, finding cash payments for land purchase were genuine business transactions. The tribunal determined payments were made out of commercial necessity and complied with Rule 6DD exceptions. Cash deposits during demonetization were substantiated through assessee's cash book, which demonstrated advances against land/plot purchases. The appellate tribunal set aside the lower authority's order, directing the AO to delete the tax addition, effectively vindicating the taxpayer's accounting practices and validating the cash transactions as legitimate business expenditures.
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