Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
For notified goods such as gold, seizure on reasonable belief initially shifts the burden to the person concerned to prove lawful acquisition under Section 123. The appellate authority's absolute release of the seized gold was unsustainable because it accepted books, invoices and GST records without correlating the entries or addressing discrepancies and the admitted fabrication of invoices and stock records. The order was therefore set aside and the matter remanded for fresh examination of the documentary evidence and the Revenue's grounds. The limitation objection to the show-cause notice was rejected, as the notice was covered by the statutory extension under the relaxation law and the objection had not been raised below.
For notified goods such as gold, seizure on reasonable belief initially shifts the burden to the person concerned to prove lawful acquisition under Section 123. The appellate authority's absolute release of the seized gold was unsustainable because it accepted books, invoices and GST records without correlating the entries or addressing discrepancies and the admitted fabrication of invoices and stock records. The order was therefore set aside and the matter remanded for fresh examination of the documentary evidence and the Revenue's grounds. The limitation objection to the show-cause notice was rejected, as the notice was covered by the statutory extension under the relaxation law and the objection had not been raised below.
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