Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
In search assessment under section 153A, an estimated commission addition was unsustainable because only copies of registered sale deeds were found, and no incriminating material showed brokerage activity or receipt of commission; the Tribunal held the addition was based only on assumption and presumption and affirmed its deletion. A protective addition for alleged cash expenditure also failed because the seized documents were owned up by another person, supported by affidavit, and had already been considered in settlement proceedings; once no further addition was called for on those documents, the protective basis disappeared. The Tribunal dismissed the Revenue's appeal and upheld deletion of both additions.
In search assessment under section 153A, an estimated commission addition was unsustainable because only copies of registered sale deeds were found, and no incriminating material showed brokerage activity or receipt of commission; the Tribunal held the addition was based only on assumption and presumption and affirmed its deletion. A protective addition for alleged cash expenditure also failed because the seized documents were owned up by another person, supported by affidavit, and had already been considered in settlement proceedings; once no further addition was called for on those documents, the protective basis disappeared. The Tribunal dismissed the Revenue's appeal and upheld deletion of both additions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
