|Income Tax Appellate Tribunal
Section 69 IT Act | Documentary Evidence (GST Returns, Form 26AS, Bank Trails) Overrides Unsubstantiated Third-Party Statements in Partnership Firm Sales: ITAT Delhi
The ITAT Delhi has ruled that genuine GST returns, Form 26AS, and banking trails constitute conclusive proof of transactional legitimacy, rendering unsubstantiated third-party statements irrelevant in tax assessments. This sets a critical precedent for businesses dealing with related-party transactions, affirming that compliance documentation trumps speculative allegations during search-based assessments.