Mis-declaration and Concealment: confiscation affirmed, transaction value re-determined and mandatory penalty sustained; redemption allowed on payment...
Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Treatment of unaccounted investment in immovable property turned on whether a bank valuation report constituted incriminating material in a search assessment; appellate authority found no incriminating material and sustained deletion of additions disallowing reliance on that valuation. Separate STCG adjustment based on AO's adoption of the DVO estimate at 120% (20% escalation) was held to be a baseless simplicitor estimation; the appellate authority rejected the enhanced valuation and deleted the STCG addition accordingly.
Treatment of unaccounted investment in immovable property turned on whether a bank valuation report constituted incriminating material in a search assessment; appellate authority found no incriminating material and sustained deletion of additions disallowing reliance on that valuation. Separate STCG adjustment based on AO's adoption of the DVO estimate at 120% (20% escalation) was held to be a baseless simplicitor estimation; the appellate authority rejected the enhanced valuation and deleted the STCG addition accordingly.
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