Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Audited financial statements were treated as the reliable basis for determining closing work-in-progress where unaudited tally-generated data showed a difference caused by adding, rather than excluding, opening work-in-progress. As the audited accounts correctly reflected the brought-forward opening balance and the relevant year's closing work-in-progress, no discrepancy remained to support an addition based solely on unaudited data. The discussion states that the addition for the alleged difference in closing work-in-progress, as well as the stock-in-trade difference, was deleted.
Audited financial statements were treated as the reliable basis for determining closing work-in-progress where unaudited tally-generated data showed a difference caused by adding, rather than excluding, opening work-in-progress. As the audited accounts correctly reflected the brought-forward opening balance and the relevant year's closing work-in-progress, no discrepancy remained to support an addition based solely on unaudited data. The discussion states that the addition for the alleged difference in closing work-in-progress, as well as the stock-in-trade difference, was deleted.
Note: It is a system-generated summary and is for quick reference only.
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