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 ...
Section 68 places the initial burden on an assessee to establish, through cogent evidence, each loan creditor's identity, financial capacity and the genuineness of the transaction. Unsecured loans may be treated as unexplained cash credits where creditors deny making advances or cannot explain the source of the funds advanced, demonstrating that their creditworthiness has not been established. Failure to discharge this burden supports an addition for unexplained cash credits.
Section 68 places the initial burden on an assessee to establish, through cogent evidence, each loan creditor's identity, financial capacity and the genuineness of the transaction. Unsecured loans may be treated as unexplained cash credits where creditors deny making advances or cannot explain the source of the funds advanced, demonstrating that their creditworthiness has not been established. Failure to discharge this burden supports an addition for unexplained cash credits.
Note: It is a system-generated summary and is for quick reference only.
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