Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Where seized diary and pen-drive material belonged to a third party, the rebuttable presumptions under sections 132(4A) and 292C did not apply against the assessee, so the Revenue had to produce independent corroborative evidence of actual cash receipts. As the loose sheets were not in the assessee's handwriting or signed by it, nothing was found from its premises, and the third party's retracted employee statements were not conclusive, the alleged cash receipts and the resulting profit estimation were deleted. On the alleged on-money entry, the Tribunal found no nexus between the seized material and any cash payment, and held the inference to be mere guesswork; that addition was also deleted.
Where seized diary and pen-drive material belonged to a third party, the rebuttable presumptions under sections 132(4A) and 292C did not apply against the assessee, so the Revenue had to produce independent corroborative evidence of actual cash receipts. As the loose sheets were not in the assessee's handwriting or signed by it, nothing was found from its premises, and the third party's retracted employee statements were not conclusive, the alleged cash receipts and the resulting profit estimation were deleted. On the alleged on-money entry, the Tribunal found no nexus between the seized material and any cash payment, and held the inference to be mere guesswork; that addition was also deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
