Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Transfer of outstanding family loan balances to the proprietor's capital account was treated as a mere reclassification of existing credits, because no fresh cash was introduced in the year; section 68 therefore did not apply, and the addition was deleted. The Tribunal also found no evidence that the family creditors had waived recovery, so there was no cessation of liability to trigger section 41(1). On the separate entry for TDS and self-assessment tax, the movement was only a book adjustment with no undisclosed source shown and no deduction claimed, so neither section 41(1) nor section 68 was attracted. The additions were upheld as deleted.
Transfer of outstanding family loan balances to the proprietor's capital account was treated as a mere reclassification of existing credits, because no fresh cash was introduced in the year; section 68 therefore did not apply, and the addition was deleted. The Tribunal also found no evidence that the family creditors had waived recovery, so there was no cessation of liability to trigger section 41(1). On the separate entry for TDS and self-assessment tax, the movement was only a book adjustment with no undisclosed source shown and no deduction claimed, so neither section 41(1) nor section 68 was attracted. The additions were upheld as deleted.
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