Transition support services from corporate spinoff for India business segment - TP adjustment deleted; comparables reassessed; goodwill depreciation, ...
Qualification of fire extinguishers as aircraft parts - original duty finding under Notification No.50/2017-Sr.545 vacated; remanded for fresh adjudic...
Whether addition under s.69 for alleged cash "on-money" paid for purchase of a shop could be sustained merely on statements recorded during search and an Excel sheet found in a third party's pen drive. The material on record, including allotment letter and bank statements, showed no evidence of any cash payment in AYs 2017-18 and 2018-19 and indicated that the purchase transaction occurred only in AY 2019-20; hence the s.69 additions for AYs 2017-18 and 2018-19 were deleted. For AY 2019-20, the statements and Excel sheet were held uncorroborated by independent evidence, consistent with co-ordinate bench precedents; hence the s.69 addition was deleted and the appeals were allowed - ITAT
Whether addition under s.69 for alleged cash "on-money" paid for purchase of a shop could be sustained merely on statements recorded during search and an Excel sheet found in a third party's pen drive. The material on record, including allotment letter and bank statements, showed no evidence of any cash payment in AYs 2017-18 and 2018-19 and indicated that the purchase transaction occurred only in AY 2019-20; hence the s.69 additions for AYs 2017-18 and 2018-19 were deleted. For AY 2019-20, the statements and Excel sheet were held uncorroborated by independent evidence, consistent with co-ordinate bench precedents; hence the s.69 addition was deleted and the appeals were allowed - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
