Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
An addition to taxable income based on an erroneous entry in the original tax-audit report was unsustainable where the assessee produced evidence of a substantially lower correct figure and the auditor subsequently revised and uploaded a corrected audit report; the appellate finding stressed that the evidentiary weight of an audit report is not absolute and must yield where a demonstrable clerical/figural error has been rectified, and that the first appellate authority's reliance on the uncorrected report was unreasonable. Operative effect: the addition set aside and the Assessing Officer directed to delete the disallowance for the relevant assessment year.
An addition to taxable income based on an erroneous entry in the original tax-audit report was unsustainable where the assessee produced evidence of a substantially lower correct figure and the auditor subsequently revised and uploaded a corrected audit report; the appellate finding stressed that the evidentiary weight of an audit report is not absolute and must yield where a demonstrable clerical/figural error has been rectified, and that the first appellate authority's reliance on the uncorrected report was unreasonable. Operative effect: the addition set aside and the Assessing Officer directed to delete the disallowance for the relevant assessment year.
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