Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
ITAT held that a reassessment addition based on a third-party unsigned excel sheet could not be sustained without correlation to the assessee's transaction and without corroborative evidence. The sheet related to a different project and an earlier period, while the assessee's property purchase was in another project and was shown as paid by cheque. As the Assessing Officer failed to establish any actual cash payment or produce supporting statements, and the developer's affidavit denied receipt of cash, the material was insufficient to prove unexplained investment. The addition was deleted and the assessee's appeal was allowed.
ITAT held that a reassessment addition based on a third-party unsigned excel sheet could not be sustained without correlation to the assessee's transaction and without corroborative evidence. The sheet related to a different project and an earlier period, while the assessee's property purchase was in another project and was shown as paid by cheque. As the Assessing Officer failed to establish any actual cash payment or produce supporting statements, and the developer's affidavit denied receipt of cash, the material was insufficient to prove unexplained investment. The addition was deleted and the assessee's appeal was allowed.
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