Thursday, August 6, 2009 |
1. SANJAY RAJ SUBBA (Delhi HC) [Related to section 269SS/269T] In this case DHC held that ITAT & CIT-Appeals correctly accepted said assessee’s explanation and merely because assessee is not aware of purpose of cash withdrawal by said other entities; same cannot be a ground to reject assessee’s explanation.
2. SEARCH & SURVEY (Delhi HC) [Related to section 133A] ITAT and the authorities below are justified in not appreciating the facts and the trite law that statements made during survey has no evidentiary value and that too if the same are rebutted by cogent reasons and evidences while filing the correct return of income or during Income-tax proceedings.
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