ITAT Removes Unverified Additions on Suppressed Sales; AO Relied Only on Excise Department's Unverified Evidence.

ITAT Removes Unverified Additions on Suppressed Sales; AO Relied Only on Excise Department's Unverified Evidence. https://www.taxtmi.com/highlights?id=41420 Addition of suppressed sale - addition using the material collected by the Excise Department including the statements of relevant witnesses recorded during the search - There is no independent material brought on record by the AO other than those which were already collected by the Excise department and which are yet to be verified - Additions were rightly deleted by the ITAT. en-us Fri, 14 Sep 2018 07:48:59 +0530 Fri, 14 Sep 2018 07:48:59 +0530 TaxTMI RSS Generator ITAT Removes Unverified Additions on Suppressed Sales; AO Relied Only on Excise Department's Unverified Evidence. https://www.taxtmi.com/highlights?id=41420 Addition of suppressed sale - addition using the material collected by the Excise Department including the statements of relevant witnesses recorded during the search - There is no independent material brought on record by the AO other than those which were already collected by the Excise department and which are yet to be verified - Additions were rightly deleted by the ITAT. Highlights Income Tax Fri, 14 Sep 2018 07:48:59 +0530 https://www.taxtmi.com/highlights?id=41420