Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Cash deposits made during the demonetization period in bank accounts accepted as receiving business turnover cannot be selectively treated as unexplained money solely because of their timing. The deeming fiction applies only where the Revenue establishes its statutory conditions, including material linking deposits to an independent undisclosed source. Where deposits show no abnormality or disproportionality against admitted business, gross receipts cannot be assessed entirely as unexplained money; only the profit embedded in turnover is assessable. The separate addition for such deposits was deleted, while the determined business income remained undisturbed.
Cash deposits made during the demonetization period in bank accounts accepted as receiving business turnover cannot be selectively treated as unexplained money solely because of their timing. The deeming fiction applies only where the Revenue establishes its statutory conditions, including material linking deposits to an independent undisclosed source. Where deposits show no abnormality or disproportionality against admitted business, gross receipts cannot be assessed entirely as unexplained money; only the profit embedded in turnover is assessable. The separate addition for such deposits was deleted, while the determined business income remained undisturbed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
