Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Verification showed the seized jewellery were not held as benami by the alleged benamidar; subsequent provenance submissions and disclosures were accepted as genuine, including aggregate disclosure by the related person of funds and sales proceeds. The Tribunal applied provenance and verification evidence to reject the benami characterisation and held that the provisional attachment under the PBPTA could not be sustained; accordingly the attachment was set aside and the appeal allowed.
Verification showed the seized jewellery were not held as benami by the alleged benamidar; subsequent provenance submissions and disclosures were accepted as genuine, including aggregate disclosure by the related person of funds and sales proceeds. The Tribunal applied provenance and verification evidence to reject the benami characterisation and held that the provisional attachment under the PBPTA could not be sustained; accordingly the attachment was set aside and the appeal allowed.
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