Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
ITAT upheld the lower authorities' findings in tax assessment proceedings u/s 153A for AY 2011-12 to 2019-20. The tribunal dismissed the assessee's contentions challenging the consolidated order, following precedent in Hitesh Golecha case. The tribunal confirmed additions of unaccounted income by estimating gross profit at 8% and commission at 1% on undisclosed sales. The order was based on the assessee's failure to provide plausible explanations and evasive conduct during proceedings. No substantial legal infirmity was found in the CIT(A)'s order, and the tribunal upheld the assessment order as legally valid.
ITAT upheld the lower authorities' findings in tax assessment proceedings u/s 153A for AY 2011-12 to 2019-20. The tribunal dismissed the assessee's contentions challenging the consolidated order, following precedent in Hitesh Golecha case. The tribunal confirmed additions of unaccounted income by estimating gross profit at 8% and commission at 1% on undisclosed sales. The order was based on the assessee's failure to provide plausible explanations and evasive conduct during proceedings. No substantial legal infirmity was found in the CIT(A)'s order, and the tribunal upheld the assessment order as legally valid.
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