Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Unexplained bank credits require credit-wise verification; a difference between aggregate bank deposits and GST-reported turnover does not, by itself, establish unexplained money. The taxpayer must establish the nature and source of credits, while the assessment must examine sales receipts, inter-bank transfers, contra entries, redeposits, expenses and disclosed business results. Business-profit estimation must rely on the nature of trade, prior or later results, comparable cases or other relevant material rather than an arbitrary rate. Consequential penalty requires reconsideration after fresh quantum assessment. A Form 26AS entry showing tax collection on a motor vehicle transaction requires verification of whether the transaction was a purchase or sale before taxing any short-term capital gain.
Unexplained bank credits require credit-wise verification; a difference between aggregate bank deposits and GST-reported turnover does not, by itself, establish unexplained money. The taxpayer must establish the nature and source of credits, while the assessment must examine sales receipts, inter-bank transfers, contra entries, redeposits, expenses and disclosed business results. Business-profit estimation must rely on the nature of trade, prior or later results, comparable cases or other relevant material rather than an arbitrary rate. Consequential penalty requires reconsideration after fresh quantum assessment. A Form 26AS entry showing tax collection on a motor vehicle transaction requires verification of whether the transaction was a purchase or sale before taxing any short-term capital gain.
Note: It is a system-generated summary and is for quick reference only.
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