Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT allowed the appeal and deleted the addition under section 69A. The Tribunal held that entries in a diary seized from the company's premises, without recovery of cash or evidence of possession or ownership by the assessee, cannot sustain an addition as unaccounted income; mere notings in a third party's diary constituted insufficient evidentiary basis. One cheque item matched the books, but other alleged receipts were neither reflected in the assessee's nor the company's accounts and were recorded at the company's place; consequently, if any liability arises it pertains to the company, not the assessee, and section 69A could not be invoked against the assessee.
ITAT allowed the appeal and deleted the addition under section 69A. The Tribunal held that entries in a diary seized from the company's premises, without recovery of cash or evidence of possession or ownership by the assessee, cannot sustain an addition as unaccounted income; mere notings in a third party's diary constituted insufficient evidentiary basis. One cheque item matched the books, but other alleged receipts were neither reflected in the assessee's nor the company's accounts and were recorded at the company's place; consequently, if any liability arises it pertains to the company, not the assessee, and section 69A could not be invoked against the assessee.
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