Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
The ITAT allowed the assessee's appeal regarding unexplained sales allegedly found in EmmEss-Gold software during survey action. The revenue relied on digital data seized from investigation wing showing gold purchase/sale transactions. However, the tribunal found that entries marked '1'/'2' against the assessee's name represented inward entries of goods received, not quantities, and these transactions were properly recorded in books of accounts. Significantly, the assessing officer in the V.K. Group case (the software's author) had examined the digital evidence in-depth and accepted that such entries represented only inward entries without indicating quantities, making no additions for unaccounted purchases. Since no incriminating material was found during the assessee's search and no additions were made against the V.K. Group who created the alleged evidence, the tribunal held no basis existed to sustain additions for unaccounted sales against the assessee.
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