Authorities applied a higher stamp value at registration to compute capital gains. The Tribunal corrected this by directing consideration of the stamp value on the agreement date, subject to verification.
The case examined rejection of books under Section 145(3) and estimation of profits in a cold storage business. While rejection was upheld, arbitrary enhancement of rates and quantities was struck down, resulting in partial relief.
The dispute centered on a statutory obligation to maintain books of account. The tribunal confirmed that non-compliance attracts penalty under Section 271A, which cannot be deleted without substantive rebuttal.
The case addressed overlapping taxation of seized cash and disclosed unaccounted profits. The final ruling emphasized substance over form and deleted the addition by extending telescoping benefits to the partner.
The Tribunal emphasized that registration decisions must consider all relevant evidence. Mechanical rejection without full appraisal was held unsustainable.
The dispute concerned enhancement of house property income based on an unsigned lease found during search. The Tribunal held that such a document has no evidentiary value and cannot support additions.
Since the reassessment itself was quashed, the addition treating long-term capital gains as unexplained cash credit under section 68 automatically failed. Jurisdictional defects were fatal to the assessment.
The Tribunal ruled that maintaining a temple or holding festivals does not disqualify a trust if substantial funds are spent on public welfare. Authorities must examine actual expenditure patterns, not assumptions.
The Tribunal examined demonetisation-period cash deposits and held that prior cash withdrawals supported by bank records could not be disregarded. The ruling clarifies that additions cannot rest on assumptions about personal conduct.
The Tribunal set aside the appellate order after finding that the appeal was not adjudicated on merits. The matter was remanded to ensure proper consideration after granting adequate opportunity of hearing.
