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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Cash expenditure was disallowed under section 40A(3) because the assessee failed to substantiate the claimed Rule 6DD exception with supporting ledger accounts or confirmation from the payee. The Tribunal noted that the assessee had dealt with the payee and that most payments were made in cash, so the case did not fall within the statutory exception. The disallowance was therefore upheld for the lead year and applied to the remaining assessment years, with all four appeals dismissed.
Cash expenditure was disallowed under section 40A(3) because the assessee failed to substantiate the claimed Rule 6DD exception with supporting ledger accounts or confirmation from the payee. The Tribunal noted that the assessee had dealt with the payee and that most payments were made in cash, so the case did not fall within the statutory exception. The disallowance was therefore upheld for the lead year and applied to the remaining assessment years, with all four appeals dismissed.
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