Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Seized loose sheets, Rojmel, MITI and related digital records were held to have evidentiary value where the Assessing Officer had correlated them with each other and the assessees showed no specific defect or alternative explanation; retraction affidavits by employees did not neutralise the seized material. The Tribunal also rejected the claim that all entries were mere facilitation passes, holding that some reflected the assessees' own unaccounted sales and cash receipts. Profit, however, had to be estimated on a rational basis rather than guesswork: 4% was applied to undisclosed own transactions and cash sales, and 1.5% to facilitation-based transactions in the LLP matter, while 4% was applied to unaccounted cash sales of the trading concerns.
Seized loose sheets, Rojmel, MITI and related digital records were held to have evidentiary value where the Assessing Officer had correlated them with each other and the assessees showed no specific defect or alternative explanation; retraction affidavits by employees did not neutralise the seized material. The Tribunal also rejected the claim that all entries were mere facilitation passes, holding that some reflected the assessees' own unaccounted sales and cash receipts. Profit, however, had to be estimated on a rational basis rather than guesswork: 4% was applied to undisclosed own transactions and cash sales, and 1.5% to facilitation-based transactions in the LLP matter, while 4% was applied to unaccounted cash sales of the trading concerns.
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