Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
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