Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
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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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