Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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Dispute concerns tax consequences of purchases of gold coins claimed as business promotion and staff welfare, reassessment treatment of dividend income claimed as exempt, and credits for advance tax and TDS. Tribunal found no independent material to prove purchases were bogus where sellers transactions were accepted as genuine; absence of stock register immaterial where items were immediately distributed and recipient details were produced, so expenditure disallowance under the general business proviso failed. Dividend exemption could not be negated by a computation-sheet adjustment absent reasons in the reassessment order. Relief directed to verify tax credits against Form 26AS.
Dispute concerns tax consequences of purchases of gold coins claimed as business promotion and staff welfare, reassessment treatment of dividend income claimed as exempt, and credits for advance tax and TDS. Tribunal found no independent material to prove purchases were bogus where sellers transactions were accepted as genuine; absence of stock register immaterial where items were immediately distributed and recipient details were produced, so expenditure disallowance under the general business proviso failed. Dividend exemption could not be negated by a computation-sheet adjustment absent reasons in the reassessment order. Relief directed to verify tax credits against Form 26AS.
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