Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Addition under ss. 69 and 69C for alleged unexplained investment and expenditure in purchase of immovable property held jointly with the assessee's parent was unsustainable because the assessee established the source of funds as amounts received from the other parent's accumulated salary and pension savings, and the revenue failed to rebut this explanation. The absence of old retirement documents was not treated as fatal given the long lapse of time since retirement and the availability of fund-utilization details for the purchase consideration and incidental expenses. The additions were directed to be deleted and the appeal was allowed - ITAT
Addition under ss. 69 and 69C for alleged unexplained investment and expenditure in purchase of immovable property held jointly with the assessee's parent was unsustainable because the assessee established the source of funds as amounts received from the other parent's accumulated salary and pension savings, and the revenue failed to rebut this explanation. The absence of old retirement documents was not treated as fatal given the long lapse of time since retirement and the availability of fund-utilization details for the purchase consideration and incidental expenses. The additions were directed to be deleted and the appeal was allowed - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
