Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT reversed the addition made by AO under section 69 for unexplained investment. The addition was based solely on an excel sheet found at a third party's premises, which allegedly showed cash loans advanced by the appellant. The Tribunal held that the excel sheet alone was insufficient evidence as it was neither authored by nor found in possession of the appellant. Without corroborative evidence establishing the appellant's connection to the alleged transactions, the addition was unsustainable. Following precedents in Appu Direct Pvt Ltd and Sant Lal, ITAT affirmed that liability cannot be fastened based solely on third-party materials without supporting evidence. The CIT(A)'s deletion of the addition was upheld.
ITAT reversed the addition made by AO under section 69 for unexplained investment. The addition was based solely on an excel sheet found at a third party's premises, which allegedly showed cash loans advanced by the appellant. The Tribunal held that the excel sheet alone was insufficient evidence as it was neither authored by nor found in possession of the appellant. Without corroborative evidence establishing the appellant's connection to the alleged transactions, the addition was unsustainable. Following precedents in Appu Direct Pvt Ltd and Sant Lal, ITAT affirmed that liability cannot be fastened based solely on third-party materials without supporting evidence. The CIT(A)'s deletion of the addition was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
