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Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
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Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
The dominant issue was whether cash of ₹25 crore, alleged to be advanced as an unrecorded loan based on directors' statements, could be taxed as unexplained money under s. 69A read with s. 115BBE. The appellate authority accepted the assessee's explanation supported by a contemporaneous loan agreement and consistent business conduct as an NBFC charging high interest on loans with corresponding TDS credits reflected in returns; the Revenue failed to disprove the agreement's authenticity or identify any infirmity in the findings. Consequently, deletion of the addition was affirmed and the Revenue's appeal was dismissed. - ITAT
The dominant issue was whether cash of ₹25 crore, alleged to be advanced as an unrecorded loan based on directors' statements, could be taxed as unexplained money under s. 69A read with s. 115BBE. The appellate authority accepted the assessee's explanation supported by a contemporaneous loan agreement and consistent business conduct as an NBFC charging high interest on loans with corresponding TDS credits reflected in returns; the Revenue failed to disprove the agreement's authenticity or identify any infirmity in the findings. Consequently, deletion of the addition was affirmed and the Revenue's appeal was dismissed. - ITAT
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