Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Gifts from parents and near relatives were accepted as genuine where the recipient disclosed name, address, relationship, quantum and confirming PAN-linked declarations, and the addition was deleted for lack of enquiry or cogent rebuttal by the AO. Cash professional receipts were accepted where the assessee produced client names, income-tax return copies and student IDs for tuition, and the addition was deleted. Cash withdrawals shown in the partnership cashbook and admitted as withdrawals by the partnership were treated as personal withdrawals, not undisclosed income, and the corresponding addition was deleted.
Gifts from parents and near relatives were accepted as genuine where the recipient disclosed name, address, relationship, quantum and confirming PAN-linked declarations, and the addition was deleted for lack of enquiry or cogent rebuttal by the AO. Cash professional receipts were accepted where the assessee produced client names, income-tax return copies and student IDs for tuition, and the addition was deleted. Cash withdrawals shown in the partnership cashbook and admitted as withdrawals by the partnership were treated as personal withdrawals, not undisclosed income, and the corresponding addition was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
