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 adjudicated a tax penalty case involving tempo transportation income estimation. The tribunal examined the penalty imposed under Section 270A, which was calculated at 7,500 per tempo across 13 tempos, while the assessee actually owned 10 tempos. The tribunal found the penalty order unsustainable, relying on a prior judicial precedent. The estimation methodology was deemed legally flawed, resulting in the penalty being quashed. The assessee's appeal was allowed, effectively nullifying the penalty assessment based on improper income estimation techniques.
ITAT adjudicated a tax penalty case involving tempo transportation income estimation. The tribunal examined the penalty imposed under Section 270A, which was calculated at 7,500 per tempo across 13 tempos, while the assessee actually owned 10 tempos. The tribunal found the penalty order unsustainable, relying on a prior judicial precedent. The estimation methodology was deemed legally flawed, resulting in the penalty being quashed. The assessee's appeal was allowed, effectively nullifying the penalty assessment based on improper income estimation techniques.
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