Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Undisclosed income of the assessee - bogus sale of agricultural produce - preponderance of probability theory - The Tribunal noted that the AO had not properly considered the nature of the appellant’s income and the agricultural evidence provided. It was observed that the lower authorities failed to appreciate the complexities of agricultural income and its proof, particularly in light of the transactions during the demonetization period. - The statements recorded by the AO, including those of a person responsible for the appellant's agricultural affairs, did not conclusively prove that the agricultural receipts were manipulated. - The Tribunal allowed the appeal, setting aside the addition of income.
Undisclosed income of the assessee - bogus sale of agricultural produce - preponderance of probability theory - The Tribunal noted that the AO had not properly considered the nature of the appellant’s income and the agricultural evidence provided. It was observed that the lower authorities failed to appreciate the complexities of agricultural income and its proof, particularly in light of the transactions during the demonetization period. - The statements recorded by the AO, including those of a person responsible for the appellant's agricultural affairs, did not conclusively prove that the agricultural receipts were manipulated. - The Tribunal allowed the appeal, setting aside the addition of income.
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