PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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In assessment u/s 153C, disallowance of depreciation on alleged bogus power-plant cost was deleted because the addition rested only on retracted oral statements, with no corroborative seized material linking alleged subcontractors to cash generation or showing incriminating material relatable to the relevant AY; proceedings could not be sustained on assumptions, so the revenue's grounds failed. Disallowance u/s 2(24)(x) r.w.s. 36(1)(va) for employees' PF contribution was directed to be deleted if bank balance existed and delay was solely due to technical glitches, subject to AO verification. Depreciation on new assets put to use in March was remanded to AO for fresh verification of purchase/use evidence. Reduction in insurance claim was sustained as duly supported. Depreciation on WDV of the power plant was allowed on consistency where no change in facts was shown. - ITAT
In assessment u/s 153C, disallowance of depreciation on alleged bogus power-plant cost was deleted because the addition rested only on retracted oral statements, with no corroborative seized material linking alleged subcontractors to cash generation or showing incriminating material relatable to the relevant AY; proceedings could not be sustained on assumptions, so the revenue's grounds failed. Disallowance u/s 2(24)(x) r.w.s. 36(1)(va) for employees' PF contribution was directed to be deleted if bank balance existed and delay was solely due to technical glitches, subject to AO verification. Depreciation on new assets put to use in March was remanded to AO for fresh verification of purchase/use evidence. Reduction in insurance claim was sustained as duly supported. Depreciation on WDV of the power plant was allowed on consistency where no change in facts was shown. - ITAT
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