Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
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The case pertains to an addition made u/s 69 for unexplained investment in agricultural land at Ratlam. The issue revolved around whether the addition was based on presumption or evidence. The Tribunal held that the registered sale deed and bank statements showing payment through post-dated cheques cannot be disregarded. The authorities' apprehension that cash must have exchanged hands is merely a presumption without any evidence. The Tribunal emphasized that presumption, no matter how strong, can never substitute evidence. When documentary evidence in the form of a registered deed and bank statements exist, mere presumption should not prevail. The Tribunal allowed the assessee's appeal, giving credence to the documentary evidence over presumption.
The case pertains to an addition made u/s 69 for unexplained investment in agricultural land at Ratlam. The issue revolved around whether the addition was based on presumption or evidence. The Tribunal held that the registered sale deed and bank statements showing payment through post-dated cheques cannot be disregarded. The authorities' apprehension that cash must have exchanged hands is merely a presumption without any evidence. The Tribunal emphasized that presumption, no matter how strong, can never substitute evidence. When documentary evidence in the form of a registered deed and bank statements exist, mere presumption should not prevail. The Tribunal allowed the assessee's appeal, giving credence to the documentary evidence over presumption.
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