Proportionality in company penalty quantification requires aggravating and mitigating factors; mechanical multiplication of director liability is impe...
In search assessment under section 153A, an estimated commission addition was unsustainable because only copies of registered sale deeds were found, and no incriminating material showed brokerage activity or receipt of commission; the Tribunal held the addition was based only on assumption and presumption and affirmed its deletion. A protective addition for alleged cash expenditure also failed because the seized documents were owned up by another person, supported by affidavit, and had already been considered in settlement proceedings; once no further addition was called for on those documents, the protective basis disappeared. The Tribunal dismissed the Revenue's appeal and upheld deletion of both additions.
In search assessment under section 153A, an estimated commission addition was unsustainable because only copies of registered sale deeds were found, and no incriminating material showed brokerage activity or receipt of commission; the Tribunal held the addition was based only on assumption and presumption and affirmed its deletion. A protective addition for alleged cash expenditure also failed because the seized documents were owned up by another person, supported by affidavit, and had already been considered in settlement proceedings; once no further addition was called for on those documents, the protective basis disappeared. The Tribunal dismissed the Revenue's appeal and upheld deletion of both additions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
