Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
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Addition under s.69 for alleged cash "on-money" paid over and above the agreement value for purchase of shop premises was examined on whether it could be sustained solely on third-party seized material and an employee's statement. In absence of any corroborative evidence linking the assessee to such payment, and where the assessee categorically denied any cash outflow, reliance on untested third-party material was held insufficient. Failure to confront the assessee with the seized material and denial of requested cross-examination vitiated the evidentiary basis. The addition was deleted and the issue was decided in favour of the assessee - ITAT
Addition under s.69 for alleged cash "on-money" paid over and above the agreement value for purchase of shop premises was examined on whether it could be sustained solely on third-party seized material and an employee's statement. In absence of any corroborative evidence linking the assessee to such payment, and where the assessee categorically denied any cash outflow, reliance on untested third-party material was held insufficient. Failure to confront the assessee with the seized material and denial of requested cross-examination vitiated the evidentiary basis. The addition was deleted and the issue was decided in favour of the assessee - ITAT
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