Tag: seized material
Addition for extra sales on the basis of trading account for truncated period of the financial year deleted by ITAT In a recent judgment, ITAT Allahabad deleted addition for excess sales on the basis of reconstructed trading account for truncated period of the financial year being in contravention …
Addition for alleged cash payment based on file/data retrieved from hard disk found during search of third party quashed in absence of corroborative evidence ABCAUS Case Law CitationABCAUS 3404 (2020) (10) ITAT Important case law relied upon by the parties:Subhash KhattarArvind Nath Seth & Sons HUFCIT vs. Alpha …
No Penalty u/s 271AAB unless undisclosed income found from seized material. Disclosure made in statement u/s 132(4) not sufficient to levy penalty ABACUS Case Law CitationABCAUS 3360 (2020) (08) ITAT Important case law relied upon by the parties:Ravi Mathur vs. DCITDinesh Kumar Agarwal vs. ACITRaja Ram Maheshwari vs. …
Assessment u/s 153A has to be made only on basis of seized material. Assessment can not be arbitrary or without any relevance or nexus with seized material ABCAUS Case Law Citation:ABCAUS 3265 (2020) (02) ITAT Important case law relied upon by the parties:Kabul Chawla, 380 ITR 573.Chintels India …
