Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Addition based on bank stock statements was sustained where the assessee did not deny availing overdraft consistent with those statements; the tribunal treated the stock as declared in the bank-filed statement. The reasoning emphasises that the statement, though unsigned by some partners, was prepared by the bank's godown keeper, linked directly to the client's drawing power, and supported by the bank manager's testimony. The assessee was given opportunity to rebut but produced no contrary evidence; consequently the stock statement's evidentiary weight was accepted and the assessment decision adverse to the assessee was maintained.
Addition based on bank stock statements was sustained where the assessee did not deny availing overdraft consistent with those statements; the tribunal treated the stock as declared in the bank-filed statement. The reasoning emphasises that the statement, though unsigned by some partners, was prepared by the bank's godown keeper, linked directly to the client's drawing power, and supported by the bank manager's testimony. The assessee was given opportunity to rebut but produced no contrary evidence; consequently the stock statement's evidentiary weight was accepted and the assessment decision adverse to the assessee was maintained.
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