Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
WhatsApp chats alone cannot sustain an addition treating part of an agreed consideration as unexplained investment; corroboration in seized material and statements is required and lacking here, so the addition under section 69 read with section 115BBE was deleted. The statutory presumption in favour of documents found during search must be applied by reading seized documents and recorded statements collectively; a holistic appraisal of draft agreements, estimates, board resolution and statements supported the taxpayer's position that the alleged cash related to a proposed refurbishment not carried out or paid. The Revenue failed to discharge the burden to establish unexplained investment.
WhatsApp chats alone cannot sustain an addition treating part of an agreed consideration as unexplained investment; corroboration in seized material and statements is required and lacking here, so the addition under section 69 read with section 115BBE was deleted. The statutory presumption in favour of documents found during search must be applied by reading seized documents and recorded statements collectively; a holistic appraisal of draft agreements, estimates, board resolution and statements supported the taxpayer's position that the alleged cash related to a proposed refurbishment not carried out or paid. The Revenue failed to discharge the burden to establish unexplained investment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
