Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT affirmed the assessment: the AO's computation of business income at 8% of turnover under section 44AD was sustained, with CIT(A)'s concurrence upheld as a correct finding. Separately, additions relating to acquisition of an immovable asset were also upheld because the assessee failed to discharge the initial onus to establish receipts from relatives-no satisfactory identity, PAN/return evidence, bank statements evidencing receipt/debit, confirmation, repayment records or proof of creditworthiness were furnished. Consequently, the unexplained investment was disallowed and the assessee's appeal was dismissed in its entirety.
ITAT affirmed the assessment: the AO's computation of business income at 8% of turnover under section 44AD was sustained, with CIT(A)'s concurrence upheld as a correct finding. Separately, additions relating to acquisition of an immovable asset were also upheld because the assessee failed to discharge the initial onus to establish receipts from relatives-no satisfactory identity, PAN/return evidence, bank statements evidencing receipt/debit, confirmation, repayment records or proof of creditworthiness were furnished. Consequently, the unexplained investment was disallowed and the assessee's appeal was dismissed in its entirety.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
