Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Page of 4805
Press 'Enter' after typing page number.
4361 to 4380 of 96100 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
In search-related assessments under section 153A, additions were not sustainable in the absence of incriminating material found during the search. Cash shortage at business premises, cash found at residence, opening balance creditors, explained capital introduction, foreign currency purchases, and house construction/renovation were treated as explained on the record, while section 69C and section 69 additions failed because the revenue did not establish that the disputed expenditure or investment was outside the books. Disallowance under section 40A(3) also could not survive where the underlying expenditure was accepted and no specific contravening cash payment or rule 6DD breach was shown. The departmental appeals were rejected and the assessees' cross appeals were allowed to the extent additions had been sustained.
In search-related assessments under section 153A, additions were not sustainable in the absence of incriminating material found during the search. Cash shortage at business premises, cash found at residence, opening balance creditors, explained capital introduction, foreign currency purchases, and house construction/renovation were treated as explained on the record, while section 69C and section 69 additions failed because the revenue did not establish that the disputed expenditure or investment was outside the books. Disallowance under section 40A(3) also could not survive where the underlying expenditure was accepted and no specific contravening cash payment or rule 6DD breach was shown. The departmental appeals were rejected and the assessees' cross appeals were allowed to the extent additions had been sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
