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...
Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer...
Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or o...
TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins ...
Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
