The tribunal held that large cash deposits in bank accounts cannot be taxed as unexplained income when the assessee proves he acted only as a commission agent. Only commission income, and not gross deposits, is taxable in such cases.
ITAT Ahmedabad held that repayment of a shareholder’s own deposit, even if used for political donation, is not deemed dividend u/s 2(22)(e) as no company funds were advanced.
The tribunal held that a partner’s capital account increase arising from a firm’s loan write-back cannot be taxed under Section 68. The key takeaway is that such credits are only accounting consequences, not unexplained income of the partner.
This explains how ITC hinges on invoice matching and supplier tax payment under Section 16. The key takeaway is that credit can be denied even after payment unless statutory conditions are fully met.
यह लेख जॉब वर्क से जुड़े GST सेक्शन 143 और स्क्रैप पर टैक्स देनदारी को सरल भाषा में समझाता है। मुख्य निष्कर्ष यह है कि स्क्रैप का स्वामित्व प्रिंसिपल का रहता है और कर देनदारी शर्तों पर निर्भर करती है।
The Tribunal held that club expenses of a corporate assessee cannot be disallowed on estimation or presumption. Entire addition was deleted as the expenditure was held to be wholly allowable.
The issue was dismissal of appeals for non-payment of admitted tax without hearing on merits. The Tribunal restored the appeals, holding that the assessee deserved an opportunity to explain advance tax liability.
The High Court set aside the assessment after finding that the order was passed before the scheduled video hearing. The ruling underscores that granting a requested personal hearing under Section 144B is mandatory.
The Tribunal held that late filing of Form 10DA is a procedural lapse and cannot justify denial of deduction when substantive conditions of Section 80JJAA are fulfilled. Deduction was directed to be allowed as the form was filed before return processing.
The Tribunal held that a plea of defective return due to unpaid tax cannot be accepted without examining the underlying income. The matter was remanded to verify whether the income was correctly reported or belonged to another year.
