Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
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