Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
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Whether additions for alleged contrived/fictitious NMCE commodity transactions were sustainable - held that the assessee had declared profits and furnished complete corroborative records (contract notes, broker ledgers, confirmations, bank statements, books) which matched NMCE data obtained u/s 133(6); AO did not identify any discrepancy nor produce independent evidence of fabrication, relying instead on general investigation inputs and selectively deeming parts of the same transactions non-genuine; conclusion: additions lacked factual and legal basis and were deleted. - ITAT
Whether additions for alleged contrived/fictitious NMCE commodity transactions were sustainable - held that the assessee had declared profits and furnished complete corroborative records (contract notes, broker ledgers, confirmations, bank statements, books) which matched NMCE data obtained u/s 133(6); AO did not identify any discrepancy nor produce independent evidence of fabrication, relying instead on general investigation inputs and selectively deeming parts of the same transactions non-genuine; conclusion: additions lacked factual and legal basis and were deleted. - ITAT
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