S. 69C : Unexplained expenditure-Failure to explain source of capitation fee paid to a medical college for admission of son-Addition is held to be justified.
S. 69C : Unexplained expenditure-Failure to explain source of capitation fee paid to a medical college for admission of son-Addition is held to be justified.
S. 69A : Unexplained money-Huge cash withdrawal-Failure to explain satisfactorily the source of cash deposit-Addition is held to be justified.
S. 69A : Unexplained money-Gift from brother-Received through banking channel-Deletion is held to be justified.
S. 68 : Cash credits-Share capital-Genuineness of identities of investor companies is established-Deletion of addition is held to be justified.
S. 68 : Cash credits-Commission-Received through banking channels-Deletion of addition by Tribunal is held to be valid. [S. 260A]
S. 68 : Cash credits-Share application money-Investment was sufficiently explained-Deletion of addition is held to be justified. [S. 69]
S. 45 : Capital gains-Builder-Sale of land kept as investment-Assessable as capital gain and not as business income. [S. 28(i)]
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid without deduction of tax at source –Second proviso is held to be applicable.
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payee has shown the income in their return of income-No disallowance can be made.
S. 37(1) : Business expenditure-Capital or revenue-Builder-Brokerage and commission-Held to be allowable as revenue expenditure.