Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Unexplained money under Section 69A was considered: Tribunal held that where amounts are withdrawn from disclosed bank accounts and the assessee furnishes books, vouchers and utilisation records which the Assessing Officer does not specifically discredit, the deeming provision cannot be invoked and addition is deleted. Separately, an ad hoc 5% disallowance of expenditure was set aside because, after remand production of cash books and supporting vouchers, no targeted rejection or cogent material demonstrated unverifiable or excessive expenditure, so blanket percentage disallowance was impermissible.
Unexplained money under Section 69A was considered: Tribunal held that where amounts are withdrawn from disclosed bank accounts and the assessee furnishes books, vouchers and utilisation records which the Assessing Officer does not specifically discredit, the deeming provision cannot be invoked and addition is deleted. Separately, an ad hoc 5% disallowance of expenditure was set aside because, after remand production of cash books and supporting vouchers, no targeted rejection or cogent material demonstrated unverifiable or excessive expenditure, so blanket percentage disallowance was impermissible.
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