Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car manufacturer's website and internet values. However, crucial information, such as Alberto's retracted statement and documentary evidence, was not adequately considered. The tribunal observed discrepancies in the invoices and highlighted the lack of evidence supporting the revenue's allegations of under-valuation. As the burden of proof rested with the revenue, the tribunal found the valuation unsustainable and set aside the impugned order.
Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car manufacturer's website and internet values. However, crucial information, such as Alberto's retracted statement and documentary evidence, was not adequately considered. The tribunal observed discrepancies in the invoices and highlighted the lack of evidence supporting the revenue's allegations of under-valuation. As the burden of proof rested with the revenue, the tribunal found the valuation unsustainable and set aside the impugned order.
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