Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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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