Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Reopening under section 147 failed because the Assessing Officer merely reproduced Investigation Wing material and third-party statements without independent enquiry or a live nexus to the assessee's alleged escaped income; the notice under section 148 and the reassessment were therefore bad in law. On the addition under section 68, the assessee produced ledger accounts, bank statements, confirmations, returns, financial statements and related memoranda showing advances for land procurement and project development, with the funds routed through banking channels and later repaid. The Tribunal held that these primary documents established identity, creditworthiness and genuineness, and that untested third-party statements could not displace them without specific enquiry. The addition was deleted.
Reopening under section 147 failed because the Assessing Officer merely reproduced Investigation Wing material and third-party statements without independent enquiry or a live nexus to the assessee's alleged escaped income; the notice under section 148 and the reassessment were therefore bad in law. On the addition under section 68, the assessee produced ledger accounts, bank statements, confirmations, returns, financial statements and related memoranda showing advances for land procurement and project development, with the funds routed through banking channels and later repaid. The Tribunal held that these primary documents established identity, creditworthiness and genuineness, and that untested third-party statements could not displace them without specific enquiry. The addition was deleted.
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