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...
Levy of penalty - discrepancy in turnover - requirement of adding gross profit and freight charges to the purchase value - The Madras High Court concluded that the levy of penalty u/s 27(3) of the TNVAT Act was unjustified due to the absence of a finding of willful nondisclosure of assessable turnover. The petitioner acted on the method suggested by enforcement officers, and the discrepancy in turnover did not amount to willful nondisclosure. Consequently, the Court set aside the impugned orders regarding the penalty, while the remaining portions of the assessment orders remained undisturbed.
Levy of penalty - discrepancy in turnover - requirement of adding gross profit and freight charges to the purchase value - The Madras High Court concluded that the levy of penalty u/s 27(3) of the TNVAT Act was unjustified due to the absence of a finding of willful nondisclosure of assessable turnover. The petitioner acted on the method suggested by enforcement officers, and the discrepancy in turnover did not amount to willful nondisclosure. Consequently, the Court set aside the impugned orders regarding the penalty, while the remaining portions of the assessment orders remained undisturbed.
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