The Tribunal held that alleged on-money addition based solely on third-party loose papers is unsustainable. In absence of independent evidence linking the assessee to unaccounted payment, the addition was deleted.
The Tribunal ruled that invoking Section 68 on member deposits of a cooperative society was unjustified. Proper books, cash records, and member-wise details were ignored by the AO.
All India Financial Institutions can finance SEBI-registered InvITs subject to structured safeguards. Lending is tied to leverage and security conditions.
Small Finance Banks can finance SEBI-registered InvITs under strict prudential limits. Aggregate exposure is capped at 49% of asset value.
The Tribunal upheld deletion of ₹3.67 crore added as unexplained cash credit from Singapore art exhibition sales. It held that detailed export, remittance, and bank evidence fully established the genuineness and source of funds.
Banks must distinctly report exposure to REITs under commercial real estate disclosures. The move enhances transparency in financial reporting.
Rejecting reliance on time lapse and regulatory issues, the Tribunal held that a trading liability remains valid unless actually extinguished. The addition under Section 41(1) was therefore deleted.
The draft amendment limits aggregate exposure to REITs within CRE ceilings. Banks must maintain stricter concentration risk controls.
Banks may finance SEBI-registered REITs under strict prudential limits. Aggregate exposure to REITs and SPVs cannot exceed 49% of asset value.
The Tribunal deleted ₹20,00,055 added as unexplained income after finding the transaction was based on mistaken identity. No evidence proved that the assessee received funds from the alleged shell company.
