Refund claim dismissed as time-barred under s.142(5); non-obstante clause read restrictively, merits not decided, self-assessment payments not mere de...
Assessee's project-completion revenue recognition upheld; income addition deleted under Guidance Note/AS-9 and percentage-completion rules as complian...
The SC dismissed the SLP, upholding the HC's affirmance of the ITAT's factual conclusion that the AO's addition of alleged outstanding liabilities payable to two banks to the assessee's returned income was justified. The Court held the genuineness and existence of the claimed transactions were questions of fact, noting the absence of sufficient evidentiary material to demonstrate receipt (and subsequent return) of goods or to substantiate the asserted liabilities. No perversity or patent illegality in the concurrent findings of fact was found, and there was no basis to interfere with the impugned HC order sustaining the addition.
The SC dismissed the SLP, upholding the HC's affirmance of the ITAT's factual conclusion that the AO's addition of alleged outstanding liabilities payable to two banks to the assessee's returned income was justified. The Court held the genuineness and existence of the claimed transactions were questions of fact, noting the absence of sufficient evidentiary material to demonstrate receipt (and subsequent return) of goods or to substantiate the asserted liabilities. No perversity or patent illegality in the concurrent findings of fact was found, and there was no basis to interfere with the impugned HC order sustaining the addition.
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