Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Unexplained money under Section 69A was considered: Tribunal held that where amounts are withdrawn from disclosed bank accounts and the assessee furnishes books, vouchers and utilisation records which the Assessing Officer does not specifically discredit,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Unexplained money under Section 69A was considered: Tribunal held that where amounts are withdrawn from disclosed bank accounts and the assessee furnishes books, vouchers and utilisation records which the Assessing Officer does not specifically discredit,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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