Unexplained investment - Treatment to the bottles of liquor - ...

Tribunal Rules Liquor Bottles as 'Valuable' Under Tax Scrutiny; Gifts Lead to Deletion of Related Additions.

April 30, 2015

Case Laws Income Tax HC

Unexplained investment - Treatment to the bottles of liquor - Tribunal treating the bottles of liquor, a consumable article, as a 'valuable article or thing' - occasional social as well as official gifts can not be ruled out - additions deleted - HC

View Source

← Previous Next →

Unexplained investment - Treatment to the bottles of liquor - ...

Tribunal Rules Liquor Bottles as 'Valuable' Under Tax Scrutiny; Gifts Lead to Deletion of Related Additions.

April 30, 2015

Case Laws Income Tax HC

You may also like:

ITAT adjudicated multiple tax-related issues, ultimately ruling in favor of the assessee. The tribunal rejected the AO's disallowance of speculation loss, finding no...

The Appellate Tribunal considered TP adjustment on brokerage commission received from related parties. It found TNMM method appropriate for benchmarking the commission...

Correctness of erasure of credit already availed by prospective invalidation of eligibility for retention of credit that would subject those services already procured...

Adjustment of excess service tax paid with subsequent service tax liability - case of Revenue is that Rule 6 (3) of Service Tax Rules, 1994 do not provide for such...

Search and Seizure - Validity of Order passed u/s 132(3) prohibiting petitioners/assessee from removing articles (liquor bottles) in the cupboard at the resident without...

The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

Penalty u/s.271CA - “assessee in default” for failure to collect tax at source u/s 206C - running bars on contract / licnece basis - empty bottles can be considered as...

Clarification relating to import of gifts

Addition u/s.68 - gift - When however, large amounts are stated to have been gifted, that too by a person having no blood relation with the assessee, the question of...

The case pertains to allegations of money laundering, charging of illegal commissions, sale of unaccounted illicit country liquor using holograms, and payment of annual...

Addition u/s 40A(3) - cash payments made against purchases of liquor exceeding ₹ 20,000/- - the payment made by the assessee for the purchase of country liquor and...

The case involved the scope of limited scrutiny and the validity of a notice u/s 143(2) of the Income Tax Act. The assessee's case was selected for limited scrutiny to...

Safe Harbour Rule - Income-tax (18th Amendment) Rules, 2022 - Amends Rule 10TD - Notification

Addition towards gift - Sale of land - the transactions of gift of shares and transactions relating to sale of land - transfer of land arose during Asst. Year 2009-10...

Supplementary refund of unutilized input tax credit pertaining to Compensatory Cess - Section 164 of the GST Act empowers the Government to frame rules. Refund of...

Quick Updates: