Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
ITAT held that gifts credited through banking channels were not taxable under section 69A absent corroborative evidence that they represented the assessee's own unaccounted money, and the addition was deleted. Cash received as on-money on property sales could not be taxed as unexplained money under section 69A; it had to be included in sale consideration and assessed under capital gains. Additions based only on uncorroborated Excel sheets for alleged construction were rejected. Major jewellery additions were partly explained by family and customary gifts, with the balance sustained, and telescoping was allowed against confirmed on-money receipts. Cash found during search was sustained, but telescoping was granted. The watch-related addition was deleted on proof of ownership and independent verification.
ITAT held that gifts credited through banking channels were not taxable under section 69A absent corroborative evidence that they represented the assessee's own unaccounted money, and the addition was deleted. Cash received as on-money on property sales could not be taxed as unexplained money under section 69A; it had to be included in sale consideration and assessed under capital gains. Additions based only on uncorroborated Excel sheets for alleged construction were rejected. Major jewellery additions were partly explained by family and customary gifts, with the balance sustained, and telescoping was allowed against confirmed on-money receipts. Cash found during search was sustained, but telescoping was granted. The watch-related addition was deleted on proof of ownership and independent verification.
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