https://www.taxtmi.com/caselaws?id=287220 The Appellate Tribunal CESTAT ALLAHABAD rejected the revenue's appeal due to the lack of evidence establishing a clear nexus between the alleged undervaluation of goods and income from share trading. The Tribunal emphasized the importance of presenting substantial evidence to support claims of undervaluation and fictitious income, ultimately setting aside the original order confirming a demand and penalties imposed on the respondent. The decision highlighted the necessity of concrete evidence to support allegations of undervaluation activities and income attribution, underscoring the significance of substantiated claims in such cases. en-us Tue, 09 Jan 2018 00:00:00 +0530 Sat, 04 Apr 2020 09:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287220 The Appellate Tribunal CESTAT ALLAHABAD rejected the revenue's appeal due to the lack of evidence establishing a clear nexus between the alleged undervaluation of goods and income from share trading. The Tribunal emphasized the importance of presenting substantial evidence to support claims of undervaluation and fictitious income, ultimately setting aside the original order confirming a demand and penalties imposed on the respondent. The decision highlighted the necessity of concrete evidence to support allegations of undervaluation activities and income attribution, underscoring the significance of substantiated claims in such cases. Case-Laws Central Excise Tue, 09 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287220