Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
ITAT allowed the appeal: it reversed the AO's additions and directed deletion of the disallowance under s.69C. The Tribunal found the AO and CIT(A) erred in rejecting bona fide improvement expenditures where the assessee produced original bills, payment evidence and corroborative invoices, despite the assessee's name not appearing on some vouchers; the totality of circumstances supported allowance of the cost of improvement. Likewise, commission/brokerage payments to four payees were held to be genuine and claimed in the recipients' returns and confirmations; mere filing after s.133(6) inquiries or familial relationship did not justify disallowance absent contrary evidence. The AO was directed to allow the claimed deductions for computation of capital gains.
ITAT allowed the appeal: it reversed the AO's additions and directed deletion of the disallowance under s.69C. The Tribunal found the AO and CIT(A) erred in rejecting bona fide improvement expenditures where the assessee produced original bills, payment evidence and corroborative invoices, despite the assessee's name not appearing on some vouchers; the totality of circumstances supported allowance of the cost of improvement. Likewise, commission/brokerage payments to four payees were held to be genuine and claimed in the recipients' returns and confirmations; mere filing after s.133(6) inquiries or familial relationship did not justify disallowance absent contrary evidence. The AO was directed to allow the claimed deductions for computation of capital gains.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
