Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Disallowance of expenses apportioned to rented portions was contested where corresponding recoveries (power charges and CAM/maintenance) were recorded as business income. Applying the matching principle and prior coordinate bench decisions on identical facts, the ITAT held that apportioned power and fuel expenses and proportionate repair and maintenance charges need not be disallowed when recovered from tenants and reflected as business income; accordingly the Tribunal deleted the AO's additions in respect of both categories of expenses.
Disallowance of expenses apportioned to rented portions was contested where corresponding recoveries (power charges and CAM/maintenance) were recorded as business income. Applying the matching principle and prior coordinate bench decisions on identical facts, the ITAT held that apportioned power and fuel expenses and proportionate repair and maintenance charges need not be disallowed when recovered from tenants and reflected as business income; accordingly the Tribunal deleted the AO's additions in respect of both categories of expenses.
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