Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Admissibility of seized diaries showing unaccounted sales under code "802" was accepted as business records and the Tribunal estimated unaccounted business income by applying a 2.5% net profit margin on gross receipts, the addition to be over and above returned income. Once profit on those receipts is taxed, subsequent additions for payments or investments funded from the same receipts (including payment to a jewellery supplier and acquisition of jewellery and bars) were deleted. Separate additions for an alleged cash payment, payments to an identified individual, land deal cash, and a vehicle payment were set aside for lack of corroborative evidence or because they were subsumed by the profit estimation; telescoping benefit was allowed.
Admissibility of seized diaries showing unaccounted sales under code "802" was accepted as business records and the Tribunal estimated unaccounted business income by applying a 2.5% net profit margin on gross receipts, the addition to be over and above returned income. Once profit on those receipts is taxed, subsequent additions for payments or investments funded from the same receipts (including payment to a jewellery supplier and acquisition of jewellery and bars) were deleted. Separate additions for an alleged cash payment, payments to an identified individual, land deal cash, and a vehicle payment were set aside for lack of corroborative evidence or because they were subsumed by the profit estimation; telescoping benefit was allowed.
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