Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
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Section 68 treatment of unsecured loans requires lender non-compliance with notices to be assessed alongside other record material; non-compliance alone does not establish unexplained cash credit. A credit relating to an earlier financial year falls outside the relevant previous year, and bank-channel receipt and repayment supported the other loan; the unsecured-loan addition was deleted. Flat-sale consideration claimed as already taxed requires verification against books and assessment records, so that issue remains for assessment verification. Corpus-fund and society deposits cannot be treated as unexplained or yield notional interest merely because the society was unformed or funds were retained; however, purchaser-wise evidence must be examined before their character and source are determined.
Section 68 treatment of unsecured loans requires lender non-compliance with notices to be assessed alongside other record material; non-compliance alone does not establish unexplained cash credit. A credit relating to an earlier financial year falls outside the relevant previous year, and bank-channel receipt and repayment supported the other loan; the unsecured-loan addition was deleted. Flat-sale consideration claimed as already taxed requires verification against books and assessment records, so that issue remains for assessment verification. Corpus-fund and society deposits cannot be treated as unexplained or yield notional interest merely because the society was unformed or funds were retained; however, purchaser-wise evidence must be examined before their character and source are determined.
Note: It is a system-generated summary and is for quick reference only.
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