Held that assessee failed to explain identity and creditworthiness of the creditors and genuineness of the transaction. Accordingly, addition u/s 68 sustained.
Held that we are inclined to allow the Cenvat Credit of input services for construction of immovable property, which is further let out to various customers.
Held that the source of withdrawal of the money is being clearly demonstrated and their deposit of money on various occasions is also established by the assessee through her bank account. Accordingly, addition u/s. 69A towards deposit of demonetized currency notes unsustainable.
Held that the procedural formalities in the CPC are intended to facilitate litigation by stating the procedure to be followed and not to be abused as an instrument of oppression to frustrate validly instituted proceedings.
Held that there is no requirement for maintaining separate books of account for claiming deduction under section 10A/10AA of the Act, and books of account maintained by assessee is sufficient to enable computation of profits of various SEZ units.
Held that a perusal of Clause 36 of the listing agreement provides for a company to inform the exchange on immediate basis of all events which will have a bearing on the performance/ operations of the company as well as price sensitive information.
Held that the petition filed by financial creditors (home buyers) is admitted and principal amount paid to corporate debtor is also accepted as financial debt.
Held that deliberate concealment relating to mis-declaration of the goods and overvaluing with the intention to avail higher duty drawback is untenable
Held that the assessee has secured the license right to use the know-how for the period of the agreement and the royalty expenditure in this regard is therefore revenue in nature.
Held that a Financial Debt is a debt alongwith interest which is disbursed against the consideration for the time value of money. Earnest money doesn’t satisfy the essential condition of financial debt and accordingly categorized as other creditor.
