S. 115JB : Company-Book profit-Book profit under S. 115JB is to be computed without resorting to computation under S. 14A-Disallowance under S.14A cannot exceed the exempt income. [S. 14A, R.8D]
S. 115JB : Company-Book profit-Book profit under S. 115JB is to be computed without resorting to computation under S. 14A-Disallowance under S.14A cannot exceed the exempt income. [S. 14A, R.8D]
S. 90 :Double taxation relief-Capital gains-Sale of shares-Exempt from tax-DTAA-India-Mauritius.[S.90(2), 90(2A) Art. 13, 27A]
S. 90 : Double taxation relief-Valid registration certificate-Denial of exemption is not justified-DTAA-India-UAE [Art. 24(2)(b)((ii)]
S. 80G : Donation-Preservation of environment-Engaged in the recycling of plastic waste-Charitable activity-Entitle to registration under section 80G (5). [S. 11, 12, 80G(5)(ii), Bombay Public Trust Act 1950]
S. 69B : Amounts of investments not fully disclosed in books of account-Search-Gold bullion-Received though will-Deletion of addition by CIT(A) is affirmed. [S. 132(4),153A]
S. 69B : Amounts of investments not fully disclosed in books of account-Alleged on money-Land-Agreement to sale-Agreement is not acted upon-Opportunity of cross examination is not granted-Addition is deleted-Reassessment-Incorrect facts-Reassessment is quashed. [S. 133A, 147, 148]
S. 69A : Unexplained money-Undisclosed income-Search-Loose sheets-Dumb documents-On money-No reference of the assesseee in the alleged documents seized-Provisions of S. 132(4A) and 292C cannot be applicable-Addition cannot be made on the basis of suspicion and surmise.[S. 132A, 153A, 292C]
S. 68 : Cash credits-Voluntary Disclosure of Income Scheme, 1997-Payment of tax was made beyond time prescribed-Investment in earlier years-Addition is deleted. [VDIS, 1997]
S. 68 : Cash credits-Cash deposits in bank-Demonetization-period-Distinction between cash credits and cash receipts towards sales-Trade advances-Subsequently converted in to sales-Cash receipts recorded in the books of account-Assessing Officer has not disputed the sales-Cash balance in the books as on 8 th November 2016 is higher than the cash deposited in the Bank-Not pointed out any discrepancy in purchases or stock-in-trade-Purchases and sales have been accepted by GST Authorities-Need not obtain confirmation-Law does not mandate-Rule 114B, for compliance of KYC norms in respect of sales exceeding Rs. 2lkhs is became mandatory w.e. f. 4th May 2023 under the Prevention of Money Laundering Act, 2002-Order of CIT(A) deleting the addition is affirmed. [S.115BBE, 131(1), 133(6)]
S. 68 : Cash credits-Shares-Capital gain-Exemption-Transferred to Demat account-Amalgamated-Penny stock-Accommodation entry-Sunrise Asian Ltd-Cross examination not provided-Order of CIT(A) deleting the addition is affirmed.[S.10(38), 45, 69C]