Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
Page of 4826
Press 'Enter' after typing page number.
7341 to 7360 of 96508 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Addition under s.69A for cash deposits was challenged on the ground that the source was unproved. The assessee explained the deposits as arising from painting sales, sale of a portion of ancestral jewellery belonging to the mother supported by a valuation report, and cash gifts received by the son at his engagement, and furnished a cash-flow statement. The appellate authority accepted these explanations as consistent with ordinary human conduct and not disproportionate, and found the supporting evidence credible. As the Revenue only raised doubts on probabilities without rebutting the factual findings or evidence, interference was declined and deletion of the addition was upheld; the Revenue's appeal was dismissed - ITAT
Addition under s.69A for cash deposits was challenged on the ground that the source was unproved. The assessee explained the deposits as arising from painting sales, sale of a portion of ancestral jewellery belonging to the mother supported by a valuation report, and cash gifts received by the son at his engagement, and furnished a cash-flow statement. The appellate authority accepted these explanations as consistent with ordinary human conduct and not disproportionate, and found the supporting evidence credible. As the Revenue only raised doubts on probabilities without rebutting the factual findings or evidence, interference was declined and deletion of the addition was upheld; the Revenue's appeal was dismissed - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
