Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
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Non-disclosure of the material used to fix a benchmark yield at 94.5% violated natural justice because the assessee had repeatedly sought the source and basis of that figure, including in representations and at personal hearing, but was not furnished any reply or supporting record. The High Court held that an assessment founded on undisclosed material denies an effective opportunity to object and amounts to denial of a proper hearing. The impugned assessment orders were set aside and the matter was remanded for disclosure of the relied-upon material, receipt of objections, and fresh orders after adequate opportunity.
Non-disclosure of the material used to fix a benchmark yield at 94.5% violated natural justice because the assessee had repeatedly sought the source and basis of that figure, including in representations and at personal hearing, but was not furnished any reply or supporting record. The High Court held that an assessment founded on undisclosed material denies an effective opportunity to object and amounts to denial of a proper hearing. The impugned assessment orders were set aside and the matter was remanded for disclosure of the relied-upon material, receipt of objections, and fresh orders after adequate opportunity.
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