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...
ITAT held that additions made u/s 153A for AYs 2014-15 to 2018-19 are unsustainable in absence of incriminating material found during search, following Supreme Court's ruling in Abhisar Buildwell (P.) Ltd. case. Remuneration paid to partner is allowable as business expenditure u/s 37, as partner's involvement in accounts maintenance is proved, despite not attending office daily. Remuneration is taxable in partner's hands u/s 28(v), which is undisputed. Assessee's appeal allowed on both issues.
ITAT held that additions made u/s 153A for AYs 2014-15 to 2018-19 are unsustainable in absence of incriminating material found during search, following Supreme Court's ruling in Abhisar Buildwell (P.) Ltd. case. Remuneration paid to partner is allowable as business expenditure u/s 37, as partner's involvement in accounts maintenance is proved, despite not attending office daily. Remuneration is taxable in partner's hands u/s 28(v), which is undisputed. Assessee's appeal allowed on both issues.
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