Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
ITAT directs Assessing Officer (AO) to verify facts regarding loan/deposit investments after providing reasonable opportunity to assessee. Tribunal found no merit in additions under Section 68 for advances to Rainbow Tech, Arun Muchhala Engineering College, Arun Muchhala Research & Education Centre, and loans from Sai Shiva Developers, Mucchala Magic Land P. Ltd., and Arun Muchhala Co-owners. The tribunal noted that most disputed amounts were opening balances or partially repaid, and transactions were conducted through banking channels. Consequently, the tribunal deleted additions made under Section 68 and upheld the assessee's claim, remanding the matter back to AO for further verification with proper procedural fairness.
ITAT directs Assessing Officer (AO) to verify facts regarding loan/deposit investments after providing reasonable opportunity to assessee. Tribunal found no merit in additions under Section 68 for advances to Rainbow Tech, Arun Muchhala Engineering College, Arun Muchhala Research & Education Centre, and loans from Sai Shiva Developers, Mucchala Magic Land P. Ltd., and Arun Muchhala Co-owners. The tribunal noted that most disputed amounts were opening balances or partially repaid, and transactions were conducted through banking channels. Consequently, the tribunal deleted additions made under Section 68 and upheld the assessee's claim, remanding the matter back to AO for further verification with proper procedural fairness.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
