SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
HC upheld the deletion of addition u/s 69 made on the basis of a notarized agreement recovered during survey proceedings. The AO/DDIT had relied solely on the agreement, without issuing summons to the third party or conducting independent investigation to verify its contents or to establish any actual flow of funds. CIT(A) and the Tribunal found that the assessee had, prior to the survey, lodged complaints before the PMO and Home Ministry alleging coercion in signing the agreement, reinforcing the claim that the document was not voluntary. In absence of corroborative evidence such as bank transactions or other material linking the assessee to unexplained investment, the addition was held unsustainable. HC concluded that the concurrent findings of CIT(A) and Tribunal were factual and reasonable, and that no substantial question of law arose, thereby dismissing the revenue's appeal.
HC upheld the deletion of addition u/s 69 made on the basis of a notarized agreement recovered during survey proceedings. The AO/DDIT had relied solely on the agreement, without issuing summons to the third party or conducting independent investigation to verify its contents or to establish any actual flow of funds. CIT(A) and the Tribunal found that the assessee had, prior to the survey, lodged complaints before the PMO and Home Ministry alleging coercion in signing the agreement, reinforcing the claim that the document was not voluntary. In absence of corroborative evidence such as bank transactions or other material linking the assessee to unexplained investment, the addition was held unsustainable. HC concluded that the concurrent findings of CIT(A) and Tribunal were factual and reasonable, and that no substantial question of law arose, thereby dismissing the revenue's appeal.
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TaxTMI 
TaxTMI 
of 4897 
