Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Addition for unexplained expenditure on alleged bogus purchases was deleted because the books of account were not rejected and there was no tangible material showing that the purchases were inflated, bogus or otherwise unexplained. The assessee had produced primary records, including books, stock and purchase registers, bank statements, import documents and supplier ledgers, and the department did not discredit the quantitative or banking evidence; an ad hoc percentage disallowance could not replace proof. On the TDS mismatch issue arising from Form 26AS discrepancies, the direction to verify the assessee's claim of revised TDS returns and delete the addition if supported was upheld.
Addition for unexplained expenditure on alleged bogus purchases was deleted because the books of account were not rejected and there was no tangible material showing that the purchases were inflated, bogus or otherwise unexplained. The assessee had produced primary records, including books, stock and purchase registers, bank statements, import documents and supplier ledgers, and the department did not discredit the quantitative or banking evidence; an ad hoc percentage disallowance could not replace proof. On the TDS mismatch issue arising from Form 26AS discrepancies, the direction to verify the assessee's claim of revised TDS returns and delete the addition if supported was upheld.
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