Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
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Reassessment under section 147 cannot be sustained where the income forming the recorded basis for reopening is not ultimately added. The Tribunal applied the binding principle that "and also" is conjunctive, so the Assessing Officer must first assess or reassess the escaped income identified in the recorded reasons before bringing in any other issue. Here, the reopening was based solely on alleged unexplained cash deposits during the demonetisation period, but that issue did not survive in reassessment. The resulting disallowance of interest expenditure on a different footing was therefore held to be unsustainable and deleted.
Reassessment under section 147 cannot be sustained where the income forming the recorded basis for reopening is not ultimately added. The Tribunal applied the binding principle that "and also" is conjunctive, so the Assessing Officer must first assess or reassess the escaped income identified in the recorded reasons before bringing in any other issue. Here, the reopening was based solely on alleged unexplained cash deposits during the demonetisation period, but that issue did not survive in reassessment. The resulting disallowance of interest expenditure on a different footing was therefore held to be unsustainable and deleted.
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