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 upheld the order of the ld. CIT(A) in material respects. Additions u/s 68 on account of sundry creditors were rejected, as identity, creditworthiness and genuineness were established through confirmations and statements, and the AO had proceeded merely on suspicion without summoning most creditors. In respect of unsecured loans, ITAT confirmed the sustained addition of Rs. 18,00,000/- relating to three depositors, as the assessee did not press her appeal; deletions for the remaining amounts were upheld. For expenses incurred in vacating encroachers, ITAT affirmed the ld. CIT(A)'s partial allowance by estimating payment at Rs. 2,500 per square yard and directing recomputation of cost of acquisition. Development expenses were allowed as per ld. CIT(A), the AO's reliance on an Inspector's belated and non-technical report being rejected. Revenue's grounds were dismissed.
ITAT upheld the order of the ld. CIT(A) in material respects. Additions u/s 68 on account of sundry creditors were rejected, as identity, creditworthiness and genuineness were established through confirmations and statements, and the AO had proceeded merely on suspicion without summoning most creditors. In respect of unsecured loans, ITAT confirmed the sustained addition of Rs. 18,00,000/- relating to three depositors, as the assessee did not press her appeal; deletions for the remaining amounts were upheld. For expenses incurred in vacating encroachers, ITAT affirmed the ld. CIT(A)'s partial allowance by estimating payment at Rs. 2,500 per square yard and directing recomputation of cost of acquisition. Development expenses were allowed as per ld. CIT(A), the AO's reliance on an Inspector's belated and non-technical report being rejected. Revenue's grounds were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
