Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existin...
Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
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The case involves the validity of assessments u/s 153A and 132 of the Income Tax Act. In the absence of incriminating material seized during the search, assessments cannot be solely based on routine additions. The jurisdiction u/s 153A requires the presence of undisclosed income or property discovered during the search. Assessments cannot be made solely on the basis of notings on loose sheets without corroborative evidence. The onus lies on the department to provide cogent evidence. Sworn statements must be supported by independent evidence. Taxation of undisclosed stock and unaccounted sales u/s 115BBE requires proper identification of income sources. In the absence of evidence linking income to unknown sources, excess stock found during the search should be treated as business income. The application of section 69B with section 115BBE should be based on concrete evidence. The assessment should reflect income derived from the normal course of business.
The case involves the validity of assessments u/s 153A and 132 of the Income Tax Act. In the absence of incriminating material seized during the search, assessments cannot be solely based on routine additions. The jurisdiction u/s 153A requires the presence of undisclosed income or property discovered during the search. Assessments cannot be made solely on the basis of notings on loose sheets without corroborative evidence. The onus lies on the department to provide cogent evidence. Sworn statements must be supported by independent evidence. Taxation of undisclosed stock and unaccounted sales u/s 115BBE requires proper identification of income sources. In the absence of evidence linking income to unknown sources, excess stock found during the search should be treated as business income. The application of section 69B with section 115BBE should be based on concrete evidence. The assessment should reflect income derived from the normal course of business.
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