Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
Use of a company's disclosed income to purchase jewellery on its behalf does not, without more, constitute acceptance by its managing director of a cash loan or deposit. Storage of company jewellery at the managing director's residence or in his locker for safekeeping does not alter that character. Characterising the arrangement as a cash loan or deposit on assumptions, presumptions or surmise renders the related penalty unsustainable; the penalty was deleted.
Use of a company's disclosed income to purchase jewellery on its behalf does not, without more, constitute acceptance by its managing director of a cash loan or deposit. Storage of company jewellery at the managing director's residence or in his locker for safekeeping does not alter that character. Characterising the arrangement as a cash loan or deposit on assumptions, presumptions or surmise renders the related penalty unsustainable; the penalty was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
