Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Disciplinary proportionality requires penalties for Authorised Representative misconduct to match proven harm, leading to reconsideration of registrat...
Angadia cash-transit entries representing clients' funds do not constitute the operator's unexplained money where the operator acts only as a facilitator and no evidence establishes ownership or accrual of the principal. Only the embedded profit or commission is taxable, not gross cash-transit receipts. Commission embedded in unaccounted turnover was estimated at 0.30 per cent after credit for commission already assessed, reflecting the low-margin nature of the business, operating margins, scale of operations and comparable Angadia decisions. Such commission is taxable at normal rates rather than under section 115BBE, and additions for gross principal cash transactions were deleted.
Angadia cash-transit entries representing clients' funds do not constitute the operator's unexplained money where the operator acts only as a facilitator and no evidence establishes ownership or accrual of the principal. Only the embedded profit or commission is taxable, not gross cash-transit receipts. Commission embedded in unaccounted turnover was estimated at 0.30 per cent after credit for commission already assessed, reflecting the low-margin nature of the business, operating margins, scale of operations and comparable Angadia decisions. Such commission is taxable at normal rates rather than under section 115BBE, and additions for gross principal cash transactions were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
