Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
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The ITAT deleted the addition for unexplained investment/purchases because the Revenue failed to produce material directly linking the assessee to the alleged unaccounted transactions with Tirth Gold. The Tribunal noted that the assessee had furnished ledger accounts, bank statement, GST registration certificate and a declaration from Tirth Gold stating that no sales were made to the assessee for the relevant assessment year, but these documents were overlooked. Reliance only on third-party statements and digital data, without corroboration identifying the assessee as involved in undisclosed purchases or investment, was insufficient to sustain the addition. The assessee's appeal was allowed.
The ITAT deleted the addition for unexplained investment/purchases because the Revenue failed to produce material directly linking the assessee to the alleged unaccounted transactions with Tirth Gold. The Tribunal noted that the assessee had furnished ledger accounts, bank statement, GST registration certificate and a declaration from Tirth Gold stating that no sales were made to the assessee for the relevant assessment year, but these documents were overlooked. Reliance only on third-party statements and digital data, without corroboration identifying the assessee as involved in undisclosed purchases or investment, was insufficient to sustain the addition. The assessee's appeal was allowed.
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