No TP adjustment by treating share application money as loan to AE merely due to delay in issuance o

IT/ILT : Share application money cannot be treated as loan amount merely because there was delay in issuance of shares by subsidiary in name of assessee and cause of delay was duly explained by assessee

Additions upheld for sums credited in bank as assessee failed to show that it was due to under-invoi

IT : Where in course of search certain amount was found deposited in bank account of assessee-HUF, in absence of any evidence on record showing co-relation between under invoking of goods sold and amount so credited, authorities below rightly added said amount to assessee's taxable income under section 69

Normal tax rate would be applicable when assessee had opted for compounded facility after closure of

CST & VAT: Kerala VAT - Where assessee in earlier years had opted for payment of tax at compounded rates and during year in question he had not opted for payment of tax at compounded rates and he had opted compounding facility after close of year, rate of tax applicable under compounding scheme would not be attracted in instant case and regular rate of tax would be applicable

CLB rejected interim relief sought under oppression plea as petitioner were protected by interim ord

CL : It would be unjust and inappropriate to pass ad-interim orders in petition under section 397/398 where petitioners were adequately protected by interim orders of BIFR and Supreme Court

Jewellery received from father/father-in-law on occasion of marriage couldn’t be held as unexplained

IT : Undisclosed income for block period would be reduced by aggregate of total income to extent such income does not exceed maximum exemption limit