Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Additions for unexplained money failed where the Revenue relied on presumption without independent corroboration. For the alleged cash payment to or on behalf of Ms. Jwala Gutta, the Tribunal found that the seized material did not establish that the assessee himself made any cash payment, and there was no confirmation from Ms. Gutta or other supporting evidence; the addition was deleted. For the alleged cash component of marriage expenses, the Assessing Officer made no enquiry from the recipient and did not properly examine the possibility of funding from Shagun receipts, so the addition was also deleted. The Tribunal treated both additions as unsupported by evidence and allowed the appeal, with the same view applied to the other assessment years.
Additions for unexplained money failed where the Revenue relied on presumption without independent corroboration. For the alleged cash payment to or on behalf of Ms. Jwala Gutta, the Tribunal found that the seized material did not establish that the assessee himself made any cash payment, and there was no confirmation from Ms. Gutta or other supporting evidence; the addition was deleted. For the alleged cash component of marriage expenses, the Assessing Officer made no enquiry from the recipient and did not properly examine the possibility of funding from Shagun receipts, so the addition was also deleted. The Tribunal treated both additions as unsupported by evidence and allowed the appeal, with the same view applied to the other assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
