https://www.taxtmi.com/caselaws?id=353004 An addition for alleged sponsorship receipts could not be sustained where the assessment record contained no supporting material in the books of account, bank statements, FIR, raid report, or the assessee's replies. The finding that sponsorship money must have been received was based only on assumption, and a tax demand, together with consequential interest and penalty, cannot rest on surmises or conjecture without a factual basis. The HC therefore interfered in writ jurisdiction, held the addition unsustainable, and set aside the entertainment tax, interest, and penalty attributable to that component in favour of the assessee. en-us Fri, 15 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353004 An addition for alleged sponsorship receipts could not be sustained where the assessment record contained no supporting material in the books of account, bank statements, FIR, raid report, or the assessee's replies. The finding that sponsorship money must have been received was based only on assumption, and a tax demand, together with consequential interest and penalty, cannot rest on surmises or conjecture without a factual basis. The HC therefore interfered in writ jurisdiction, held the addition unsustainable, and set aside the entertainment tax, interest, and penalty attributable to that component in favour of the assessee. Case-Laws VAT and Sales Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353004