Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
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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