Programme production and copyright assignment can be separately taxed when the agreement shows distinct production activity on behalf of the broadcast...
Transshipment permission for courier import goods granted subject to customs supervision, bond compliance, sealing, escort and destination acknowledgm...
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Section 68 was held inapplicable to an addition computed by reducing actual interest on unsecured loans to a benchmark 12% and treating the differential as unexplained income. The tribunal found no fresh credit entry or unidentified creditor; lenders were known, payments routed through banking channels, and the dispute concerned reasonableness of interest - an allowability issue, not an unexplained cash credit. The Assessing Officer's substitution of a benchmark rate and mechanical addition was unsustainable. The correct remedial route is assessment of disallowable interest by adjusting capitalised interest into work in progress and recomputing taxable income. Addition under section 68 deleted and appeal allowed.
Section 68 was held inapplicable to an addition computed by reducing actual interest on unsecured loans to a benchmark 12% and treating the differential as unexplained income. The tribunal found no fresh credit entry or unidentified creditor; lenders were known, payments routed through banking channels, and the dispute concerned reasonableness of interest - an allowability issue, not an unexplained cash credit. The Assessing Officer's substitution of a benchmark rate and mechanical addition was unsustainable. The correct remedial route is assessment of disallowable interest by adjusting capitalised interest into work in progress and recomputing taxable income. Addition under section 68 deleted and appeal allowed.
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