Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
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Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
The ITAT Indore addressed unexplained cash investment for property purchase post search operation. Addition without cross-examination was challenged. The Tribunal emphasized burden of proof on AO to allow cross-examination of third party whose documents led to addition. Failure to provide cross-examination opportunity led to deletion of alleged cash investment addition. Lack of additional evidence by Revenue and similarity to precedent case resulted in relief for the assessee. The Tribunal ruled in favor of the assessee due to insufficient evidence and failure to adhere to principles of natural justice.
The ITAT Indore addressed unexplained cash investment for property purchase post search operation. Addition without cross-examination was challenged. The Tribunal emphasized burden of proof on AO to allow cross-examination of third party whose documents led to addition. Failure to provide cross-examination opportunity led to deletion of alleged cash investment addition. Lack of additional evidence by Revenue and similarity to precedent case resulted in relief for the assessee. The Tribunal ruled in favor of the assessee due to insufficient evidence and failure to adhere to principles of natural justice.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
