Home Highlights December 2016 Year 2016 This

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1. Addition u/s 68 - receipt of share application money - reliance on statement of third parties - The statements of third parties i.e. two angadias relied upon by the ld....

2. Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

3. The case pertains to the allegation of clandestine manufacture and clearance of structural items/rolled products by the appellant. The revenue's case rested solely on...

4. Clandestine Removal - threshold limit of SSI Exemption - third party evidences reliable or not - It is settled that statements of dealers and transporters and the...

5. CENVAT Credit - Bogus firms - fraudulent Cenvat Credit passing chain to facilitate availment of Cenvat Credit without actual manufacture and supply of duty paid goods -...

6. Addition solely on the basis of Departmental valuation report – addition cannot be justified solely relying upon the valuation report - HC

7. Clandestine removal of goods - Recovery of incriminating documents - The uncorroborated statements of third party cannot be adopted as an evidence, without corroboration...

8. The addition made u/s 68 for bogus share application money receipts was solely based on the statement of an unrelated third party, Shri Pravin Kumar Jain, recorded...

9. The Appellate Tribunal held that the Assessing Officer erred in making additions u/s 68 for unsecured loans and disallowing interest component. The assessee demonstrated...

10. Digital images and Excel files found on partner's phone cannot be relied upon for making additions u/s 69C for unexplained expenditure. Loose papers and documents not...

11. The case involved the legality of assessment u/s 153A vs. 153C based on materials found during a search of a third party. It was held that assessment u/s 153A cannot be...

12. The Appellate Tribunal considered the legality of additions based on a diary seized from a third party. The Tribunal held that the presumption u/s 132(4A) of the Act...

13. Clandestine removal - cross-examination of persons whose statements were relied upon - As per Section 9D, the provisions are clear that, before relying on the statement...

14. Central Excise demands cannot be sustained solely based on confessional statements without corroborative documentary evidence. Retracted affidavits cannot be relied upon...

15. Clandestine Removal - As per the provisions of section 9D it is clear that during adjudication, the adjudicating authority is required to first examine the witness in...