Cash routed to non-existent firm deemed proceeds of crime; laundered funds and properties attachable, provisional attachments confirmed; two accounts ...
Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
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ITAT rejected the Revenue's Rule 46A objection because the EPCG licence documents and computation were already part of the record before the Assessing Officer, and no fresh evidence had been admitted by the first appellate authority. It further upheld deletion of the addition relating to the Government grant, holding that the amount had been credited in the books under Ind-AS-compliant accounting, was tax neutral for income-tax purposes, and had already been included in the returned total income. A further addition would therefore result in double addition. The Revenue's appeal was dismissed.
ITAT rejected the Revenue's Rule 46A objection because the EPCG licence documents and computation were already part of the record before the Assessing Officer, and no fresh evidence had been admitted by the first appellate authority. It further upheld deletion of the addition relating to the Government grant, holding that the amount had been credited in the books under Ind-AS-compliant accounting, was tax neutral for income-tax purposes, and had already been included in the returned total income. A further addition would therefore result in double addition. The Revenue's appeal was dismissed.
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