Addition on the bases of seized material procured from corporate ...

Seized Documents Insufficient for Liability: No Corroborating Evidence of Payment to Assessee for KNNL Contract.

July 7, 2022

Case Laws Income Tax AT

Addition on the bases of seized material procured from corporate office - Since the seized material is neither the regular books of account nor kept in the regular course of business of the assessee. They were not sufficient enough to fasten the liability on the present assessee, against whom they were sought to be used. The seized document collected by the department did not raise a reasonable ground to believe that there is a valid payment to the present assessee so as to award contract to the KNNL and the payment is relating to for awarding the contract of UBP. - The seized material itself would not furnished evidences of the truth of their contents and that was not corroborated by any further evidence so as to hold that the assessee has actually received the said payment - AT

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Addition on the bases of seized material procured from corporate ...

Seized Documents Insufficient for Liability: No Corroborating Evidence of Payment to Assessee for KNNL Contract.

July 7, 2022

Case Laws Income Tax AT

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