Understatement of sales - search and seizer operation were ...

Assessing Officer's Addition Based on Unsubstantiated Claims of Sales Understatement Lacks Evidence, Relies on Assumptions and Guesswork.

November 27, 2021

Case Laws Income Tax AT

Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were before the AO, he must bring on record any contrary evidence, he must have made the inquiry from the purchasers when the data or details of the purchasers were before him, before making the addition on account of understatement of sales. The Assessing Officer has not brought on record any contrary evidence except these loose papers. - AO made the addition own guess work, assumption, presumption and suspicion - AT

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Understatement of sales - search and seizer operation were ...

Assessing Officer's Addition Based on Unsubstantiated Claims of Sales Understatement Lacks Evidence, Relies on Assumptions and Guesswork.

November 27, 2021

Case Laws Income Tax AT

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