Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Seized material showing unaccounted sales justified taxing only the profit embedded in the suppressed turnover, not the entire sale proceeds, and the addition had to be based on the actual sales figure found in the record rather than extrapolation. A separate addition for business expenditure under section 69C was deleted because the expenditure was sourced from the same unaccounted sales, and adding it again would amount to impermissible double addition. The Tribunal also upheld deletion of the alleged scrap sales addition on the factual finding that all scrap sales were recorded in the books, and rejected the Revenue's grievance on salary expenditure because no such addition had been made in the assessment order.
Seized material showing unaccounted sales justified taxing only the profit embedded in the suppressed turnover, not the entire sale proceeds, and the addition had to be based on the actual sales figure found in the record rather than extrapolation. A separate addition for business expenditure under section 69C was deleted because the expenditure was sourced from the same unaccounted sales, and adding it again would amount to impermissible double addition. The Tribunal also upheld deletion of the alleged scrap sales addition on the factual finding that all scrap sales were recorded in the books, and rejected the Revenue's grievance on salary expenditure because no such addition had been made in the assessment order.
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