Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
Revisional jurisdiction over export quota premium deductions requires both error and Revenue prejudice; a permissible assessment view cannot be displa...
ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
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