Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
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Addition under s.69 for alleged unexplained fixed assets was rejected because the assessee had consistently disclosed the same asset value in successive balance sheets and earlier return filings, and the AO produced no material to show investment during the relevant year; the addition was deleted. Enhancement of closing capital and rejection of closing cash balance were held unjustified since the disclosed cash-in-hand was supported by the balance sheet and GST returns, and denial of capitalization flowed from the AO's incorrect reduction of cash; enhancement was allowed. Addition under s.69A was quashed as the assessment was framed without a mandatory show-cause notice, vitiating the order; the addition was deleted. Consequential penalties under s.272A(1)(d) were deleted. - ITAT
Addition under s.69 for alleged unexplained fixed assets was rejected because the assessee had consistently disclosed the same asset value in successive balance sheets and earlier return filings, and the AO produced no material to show investment during the relevant year; the addition was deleted. Enhancement of closing capital and rejection of closing cash balance were held unjustified since the disclosed cash-in-hand was supported by the balance sheet and GST returns, and denial of capitalization flowed from the AO's incorrect reduction of cash; enhancement was allowed. Addition under s.69A was quashed as the assessment was framed without a mandatory show-cause notice, vitiating the order; the addition was deleted. Consequential penalties under s.272A(1)(d) were deleted. - ITAT
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