Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
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Assessee's explanation for the alleged shortfall in wastage was supported by job-work records, invoices and confirmations, and the Tribunal found no factual infirmity; the rejection of books and estimated gross profit addition were therefore deleted. In reassessment, additions for contract-payment TDS default and delayed provident fund contribution could not survive once the recorded reason for reopening itself failed in appeal, because jurisdiction to sustain unrelated additions depends on survival of the original reopening ground. A donation deduction disallowance was not decided on merits, as adverse material was not furnished and cross-examination was denied; the matter was restored for fresh adjudication after due hearing.
Assessee's explanation for the alleged shortfall in wastage was supported by job-work records, invoices and confirmations, and the Tribunal found no factual infirmity; the rejection of books and estimated gross profit addition were therefore deleted. In reassessment, additions for contract-payment TDS default and delayed provident fund contribution could not survive once the recorded reason for reopening itself failed in appeal, because jurisdiction to sustain unrelated additions depends on survival of the original reopening ground. A donation deduction disallowance was not decided on merits, as adverse material was not furnished and cross-examination was denied; the matter was restored for fresh adjudication after due hearing.
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