Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
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