ITC Mismatch demand set aside by High Court because authorities failed to consider certificate obtained by buyer from the supplier and CA of supplier.
While reopening the case U/S 148, the AO must be subjectively satisfied that income which was taxable has in fact escaped assessment: Delhi HC
Ex-parte order was passed by NFAC in case of an Illitrate and agriculturist Assessee quashed & restored back to AO in light of principles of natural justice.
Rental income received from letting out of building along with furniture, fixtures, etc., would be taxable under the head ‘Income from other sources’