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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Transfer of outstanding family loan balances to the proprietor's capital account was treated as a mere reclassification of existing credits, because no fresh cash was introduced in the year; section 68 therefore did not apply, and the addition was deleted. The Tribunal also found no evidence that the family creditors had waived recovery, so there was no cessation of liability to trigger section 41(1). On the separate entry for TDS and self-assessment tax, the movement was only a book adjustment with no undisclosed source shown and no deduction claimed, so neither section 41(1) nor section 68 was attracted. The additions were upheld as deleted.
Transfer of outstanding family loan balances to the proprietor's capital account was treated as a mere reclassification of existing credits, because no fresh cash was introduced in the year; section 68 therefore did not apply, and the addition was deleted. The Tribunal also found no evidence that the family creditors had waived recovery, so there was no cessation of liability to trigger section 41(1). On the separate entry for TDS and self-assessment tax, the movement was only a book adjustment with no undisclosed source shown and no deduction claimed, so neither section 41(1) nor section 68 was attracted. The additions were upheld as deleted.
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