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 HC allowed the appeal and set aside the addition of Rs.25,00,000 made by the AO and upheld by the CIT(A) and the Tribunal, concluding the estimation lacked any material or rational basis. The court found no justification to infer undisclosed sales or suppress books where purchases and sales were duly recorded and the purchase price rose due to foreign exchange movements. The AO's conclusion of a dip in gross profit, based on the fact that approximately 95% of sales were to a related concern, was unsupported by comparative data from like business periods; the Tribunal's contrary finding was characterized as perverse. Relief granted to the assessee; addition deleted.
The HC allowed the appeal and set aside the addition of Rs.25,00,000 made by the AO and upheld by the CIT(A) and the Tribunal, concluding the estimation lacked any material or rational basis. The court found no justification to infer undisclosed sales or suppress books where purchases and sales were duly recorded and the purchase price rose due to foreign exchange movements. The AO's conclusion of a dip in gross profit, based on the fact that approximately 95% of sales were to a related concern, was unsupported by comparative data from like business periods; the Tribunal's contrary finding was characterized as perverse. Relief granted to the assessee; addition deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
