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1. Assessment us 153A - Statement of assessee alone cannot be the basis for making any estimated additions against the assessee. May be the assessee has retracted from the...

2. Personal penalty on the charge of forgery of Textile Committee report - It is found that forgery is a very serious charge which should be proved by clear and cogent...

3. Estimation of income - Bogus purchases - Reliance on retracted statement - The ITAT, after reviewing the case, noted discrepancies in the reliance on these statements...

4. Income accrued in India - section 9(1)(i) - Explanation 5 has been given retrospective effect and Explanations 6 and 7 have been inserted in furtherance of the object of...

5. Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT

6. 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...

7. 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...

8. Addition of excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The Tribunal observed that the assessee provided plausible...

9. Ex-parte appellate order passed by CIT(A) based on statement of fact filed by assessee. Second round of litigation regarding whether assessee firm stood dissolved or...

10. Undisclosed income - on-money - retracted statement - One of the purchasers has stated on oath that a Police complaint was given against him and therefore, he had given...

11. The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

12. Addition of surrendered income - retraction of statement - Such a statement when recorded at two stages cannot be discarded summarily in cryptic manner by observing that...

13. Onus lay upon Assessee to displace said presumption. As we have seen that Assessee gave explanation disowning documents stating that same related to some others but...

14. Addition u/s 69/115BBE - unexplained money on the basis of difference in stock statement submitted to the lender bank - When no defect is found with the accounts of the...

15. Unexplained money u/s 69A or investment u/s 69 - Once an AO finds that an investment has been made, he has to examine the Assessee's explanation as to the source of that...