S. 80G : Donation-Denial of registration-Delay in filing Form No.10AB for renewal-Circular 6/2023,-Directed to consider the registration on merits. [S.12AB, 80G(5)]

S. 80G : Donation-Denial of registration-The extended time limit of 30.09.2023 as per CBDT Circular 29 dated 24.05.2023 would apply to Form No.10AB-CIT(E) is directed to consider the application on merits without raising the issue of timeline. [S.80G(5)(iv), Form No 10AB, 10AC]

S. 69C : Unexplained expenditure-Income from undisclosed sources-Bogus purchases-Accommodation entries-Information from Sales Tax Department-Addition aat 12.5 Per Cent. of bogus purchases is held to be justified.

S. 69C : Unexplained expenditure-Commission-Bogus purchases and sales-Gross profit offered to tax-No separate addition can be made.

S. 69C : Unexplained expenditure-Bogus purchases-Purchases are recorded in the books and corresponding sales are accepted-The entire amount of alleged bogus purchases should not be added to income-Gross profit rate of 12.5% on such purchases is reasonable. [S.133(6), 147]

S. 69C: Unexplained expenditure-Income from undisclosed sources-bogus purchases-An addition of four percent of bogus purchases is held to be appropriate.[S.68]

S. 69C : Unexplained expenditure-The commission paid on bogus purchases and sales is covered by the gross profit already disclosed and offered to tax-No separate addition can be made. [S. 132, 133]

S. 69B : Amounts of investments not fully disclosed in books of account-Excess stock-Survey-Deeming provision would not apply-Assessable at normal rates as business income. [S.115BBE,133A]

S. 69B : Amounts of investments not fully disclosed in books of account-Excess stock-Discrepancy in cost of building-Cash expenditure-Income disclosed in the course of survey-Tax not be levied by applying the deeming provision. [S.40A(3) 115BBE, 133A]

S. 69A : Unexplained money-Survey-Amount received from bank entity of another entity-Share capital-Addition is deleted.[S.133A]