Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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...
Primary purchase evidence, accepted sales and unrejected books may discharge the purchaser's burden unless the Revenue produces independent material showing sham supplies or return of consideration. A supplier's failure to substantiate its own procurement chain, alleged excess mining, or direct dispatch to customers does not alone justify disallowance. Where purchase evidence is deficient but sales, audited accounts and quantitative records are accepted, only the profit embedded in unverifiable purchases may be estimated, using the disclosed gross-profit ratio; complete disallowance would create artificial profits. A closing-stock balance in seized electronic records requires corroboration and cannot stand where incomplete consumption entries create a notional, improbable stock figure unsupported by physical stock or other defects.
Primary purchase evidence, accepted sales and unrejected books may discharge the purchaser's burden unless the Revenue produces independent material showing sham supplies or return of consideration. A supplier's failure to substantiate its own procurement chain, alleged excess mining, or direct dispatch to customers does not alone justify disallowance. Where purchase evidence is deficient but sales, audited accounts and quantitative records are accepted, only the profit embedded in unverifiable purchases may be estimated, using the disclosed gross-profit ratio; complete disallowance would create artificial profits. A closing-stock balance in seized electronic records requires corroboration and cannot stand where incomplete consumption entries create a notional, improbable stock figure unsupported by physical stock or other defects.
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