CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
ITAT upheld the CIT(A)'s deletion of additions u/s 68 and 69A made on the basis of a seized day-cash-book/diary belonging to a third-party group. It held that unilateral decoding of notings by the AO, without examining the author or any connected person and without corroboration from bank records, audited books, confirmations or other primary evidence, lacked evidentiary value. As the loose sheets neither named the assessee nor established a one-to-one nexus with recorded cheque transactions, they were treated as "dumb documents." Additions based on such unverified third-party loose papers were held unsustainable, and the appeals were decided in favour of the assessee.
ITAT upheld the CIT(A)'s deletion of additions u/s 68 and 69A made on the basis of a seized day-cash-book/diary belonging to a third-party group. It held that unilateral decoding of notings by the AO, without examining the author or any connected person and without corroboration from bank records, audited books, confirmations or other primary evidence, lacked evidentiary value. As the loose sheets neither named the assessee nor established a one-to-one nexus with recorded cheque transactions, they were treated as "dumb documents." Additions based on such unverified third-party loose papers were held unsustainable, and the appeals were decided in favour of the assessee.
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