Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Project Falcon material, standing alone, could not justify an addition under section 68 where the assessee had already recorded the option-trading profit in its profit and loss account, the trade data showed both gains and losses, and there was no direct assessee-specific evidence of a manipulative reversal-trade arrangement. The Tribunal held that the proposed addition would also amount to double taxation, so the deletion of the section 68 addition and the related commission disallowance under section 69C was upheld. On the alleged accommodation loan, the assessee discharged the burden by producing cheque payment, books, confirmations, bank statements and repayment evidence, while the lender's financials showed creditworthiness; in the absence of contrary inquiry or direct linkage, the section 68 addition was unsustainable and its deletion was affirmed.
Project Falcon material, standing alone, could not justify an addition under section 68 where the assessee had already recorded the option-trading profit in its profit and loss account, the trade data showed both gains and losses, and there was no direct assessee-specific evidence of a manipulative reversal-trade arrangement. The Tribunal held that the proposed addition would also amount to double taxation, so the deletion of the section 68 addition and the related commission disallowance under section 69C was upheld. On the alleged accommodation loan, the assessee discharged the burden by producing cheque payment, books, confirmations, bank statements and repayment evidence, while the lender's financials showed creditworthiness; in the absence of contrary inquiry or direct linkage, the section 68 addition was unsustainable and its deletion was affirmed.
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