CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
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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