NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
On addition under s.68 r.w.s. 115BBE for an unsecured loan, the tribunal held that the loan stood established as genuine on parity with an earlier decision involving identical facts and allegations, and therefore deleted the addition. On addition under s.69A r.w.s. 115BBE for cash-in-hand treated as unexplained, it held that the cash was duly recorded in the books of multiple group entities and the source was thus explained; the deletion by the first appellate authority was upheld and the Revenue's ground was dismissed. On disallowance under s.37(1), it held that the AO made a double addition despite the assessee's own disallowance in computation; the deletion was sustained. - ITAT
On addition under s.68 r.w.s. 115BBE for an unsecured loan, the tribunal held that the loan stood established as genuine on parity with an earlier decision involving identical facts and allegations, and therefore deleted the addition. On addition under s.69A r.w.s. 115BBE for cash-in-hand treated as unexplained, it held that the cash was duly recorded in the books of multiple group entities and the source was thus explained; the deletion by the first appellate authority was upheld and the Revenue's ground was dismissed. On disallowance under s.37(1), it held that the AO made a double addition despite the assessee's own disallowance in computation; the deletion was sustained. - ITAT
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