Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Addition based on entries appearing in a diary seized from the assessee - Penalty proceedings u/s. 269SS, 269T and 271AAB - The CIT(A) held that the AO's findings were not sustainable as they lacked material evidence and reasoning. The CIT(A) noted that the transactions in the seized diary were related to the partnership firms' projects, and the assessee was maintaining accounts for the partners of these firms. The CIT(A) also considered the disclosure made by the partnership firms while deciding the penalty. - The ITAT dismissed the appeal filed by the Revenue, affirming the CIT(A)'s order.
Addition based on entries appearing in a diary seized from the assessee - Penalty proceedings u/s. 269SS, 269T and 271AAB - The CIT(A) held that the AO's findings were not sustainable as they lacked material evidence and reasoning. The CIT(A) noted that the transactions in the seized diary were related to the partnership firms' projects, and the assessee was maintaining accounts for the partners of these firms. The CIT(A) also considered the disclosure made by the partnership firms while deciding the penalty. - The ITAT dismissed the appeal filed by the Revenue, affirming the CIT(A)'s order.
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