Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
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 4816 
Join Channel 
