Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
Results declared by the assessee in the return were held unsupported by the books of accounts, and the rejection of the books and consequent income estimation was sustained. A cash deposit during the demonetisation period was held to be explained by retail liquor sales and, since sales were accepted as the source and no other unrecorded utilisation appeared, an addition under unexplained money principles was deleted. A claimed deduction under 80C was disallowed for want of documentary proof; absence of supporting evidence before appellate authorities justified upholding that disallowance.
Results declared by the assessee in the return were held unsupported by the books of accounts, and the rejection of the books and consequent income estimation was sustained. A cash deposit during the demonetisation period was held to be explained by retail liquor sales and, since sales were accepted as the source and no other unrecorded utilisation appeared, an addition under unexplained money principles was deleted. A claimed deduction under 80C was disallowed for want of documentary proof; absence of supporting evidence before appellate authorities justified upholding that disallowance.
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