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...
The High Court considered the reopening of assessment u/s 147 due to accommodation entries from M/s Metal Impex, a shell entity for high-value transactions. Respondents relied on bank statements linking petitioner to Metal Impex for accommodation entries, leading to suspicion of escaped income. Petitioner requested Suspicious Transaction Report but did not deny transactions or provide relevant material. Court found no grounds for interference u/s Article 226 and dismissed the writ petition.
The High Court considered the reopening of assessment u/s 147 due to accommodation entries from M/s Metal Impex, a shell entity for high-value transactions. Respondents relied on bank statements linking petitioner to Metal Impex for accommodation entries, leading to suspicion of escaped income. Petitioner requested Suspicious Transaction Report but did not deny transactions or provide relevant material. Court found no grounds for interference u/s Article 226 and dismissed the writ petition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
