Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
ITAT remanded the matter to the AO for further inquiry, concluding prima facie that the Revenue has established a case of accommodation entries and alleged bogus purchases. The AO is directed to verify bank statements, inter-alia the cash trail vis-Ã -vis the assessee's cash books, and to obtain relevant information from the GST authorities to determine whether input tax credit was claimed. After conducting these verifications and necessary enquiries, the AO shall adjudicate the issue in accordance with the Income Tax Act. If the assessee fails to produce requisite records, the AO may decide the matter on merits after obtaining GST and banking particulars. Appeal partly allowed for statistical purposes.
ITAT remanded the matter to the AO for further inquiry, concluding prima facie that the Revenue has established a case of accommodation entries and alleged bogus purchases. The AO is directed to verify bank statements, inter-alia the cash trail vis-Ã -vis the assessee's cash books, and to obtain relevant information from the GST authorities to determine whether input tax credit was claimed. After conducting these verifications and necessary enquiries, the AO shall adjudicate the issue in accordance with the Income Tax Act. If the assessee fails to produce requisite records, the AO may decide the matter on merits after obtaining GST and banking particulars. Appeal partly allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
