https://www.taxtmi.com/caselaws?id=264896 AIR information can form a valid basis for reopening under section 148 where it indicates potential underassessment, and the reassessment was upheld because the assessee did not reconcile the freight-payment discrepancy. Additions based on differences between book entries and AIR data were sustained since no satisfactory explanation was produced to show that the receipts related to a later year or were otherwise not taxable in the year under review. Disallowance of lorry hire charges under section 40(a)(ia) was sustained for payments not supported by Form 15-I, while relief was allowed only for the portion covered by valid declarations. en-us Thu, 30 Oct 2014 00:00:00 +0530 Sun, 04 Oct 2015 12:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264896 AIR information can form a valid basis for reopening under section 148 where it indicates potential underassessment, and the reassessment was upheld because the assessee did not reconcile the freight-payment discrepancy. Additions based on differences between book entries and AIR data were sustained since no satisfactory explanation was produced to show that the receipts related to a later year or were otherwise not taxable in the year under review. Disallowance of lorry hire charges under section 40(a)(ia) was sustained for payments not supported by Form 15-I, while relief was allowed only for the portion covered by valid declarations. Case-Laws Income Tax Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264896