https://www.taxtmi.com/caselaws?id=467062 Presumptive additions based on alleged bogus or circular transactions are unsustainable where there is no concrete documentary or testimonial evidence showing receipt of cash or excess consideration beyond booked amounts; the Tribunal deleted the estimated addition for the relevant years. Mechanical proportional disallowance of depreciation and indirect expenses without examination of invoices, nature of expenses and supporting documents is impermissible; those issues are remitted to the assessing officer for documentary verification and fresh adjudication. A challenge to the validity of the special assessment procedure was held infructuous in light of these substantive outcomes. en-us Mon, 08 Dec 2025 00:00:00 +0530 Mon, 02 Mar 2026 10:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467062 Presumptive additions based on alleged bogus or circular transactions are unsustainable where there is no concrete documentary or testimonial evidence showing receipt of cash or excess consideration beyond booked amounts; the Tribunal deleted the estimated addition for the relevant years. Mechanical proportional disallowance of depreciation and indirect expenses without examination of invoices, nature of expenses and supporting documents is impermissible; those issues are remitted to the assessing officer for documentary verification and fresh adjudication. A challenge to the validity of the special assessment procedure was held infructuous in light of these substantive outcomes. Case-Laws Income Tax Mon, 08 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467062