Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT allowed the assessee's appeal regarding bogus purchase additions. The assessee joined M/s. Gauri Construction as partner in AY 2011-12 when it converted from proprietorship to firm. Commercial tax authorities subsequently identified bogus transactions of M/s. Gauri Construction for AY 2010-11, which were incorrectly tagged to the assessee's PAN despite occurring before partnership formation. CIT(A) correctly determined that since all evidence related to M/s. Gauri Construction's transactions, the AO lacked justification for making adverse inferences against the assessee personally. ITAT upheld CIT(A)'s decision to delete the addition, finding no basis for attributing pre-partnership transactions to the individual assessee.
ITAT allowed the assessee's appeal regarding bogus purchase additions. The assessee joined M/s. Gauri Construction as partner in AY 2011-12 when it converted from proprietorship to firm. Commercial tax authorities subsequently identified bogus transactions of M/s. Gauri Construction for AY 2010-11, which were incorrectly tagged to the assessee's PAN despite occurring before partnership formation. CIT(A) correctly determined that since all evidence related to M/s. Gauri Construction's transactions, the AO lacked justification for making adverse inferences against the assessee personally. ITAT upheld CIT(A)'s decision to delete the addition, finding no basis for attributing pre-partnership transactions to the individual assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
