GST payment representations require record-based, reasoned decisions while substantive entitlement remains open for determination by competent authori...
Reassessment sanction under extended limitation required approval from the competent specified authority, invalidating proceedings approved by an inco...
Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
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Suppressed turnover arising from unrecorded sales generated in a disclosed business is assessable only to the embedded profit, absent evidence of unexplained investment or an independent undisclosed activity. Because gross receipts recover both cost and profit, historical profitability provides an objective estimation basis; a moderately higher margin may apply to incremental out-of-books realisation. Profit was estimated at 2%, restricting the turnover addition to that amount; the evidentiary value of individual Excel sheets remained undecided. Cash-payment disallowance requires payment-wise, person-wise and day-wise verification against the prescribed limit, rather than yearly ledger aggregates. Claimed Rule 6DD exceptions require supporting-material verification, and the disallowance was remanded for that limited examination.
Suppressed turnover arising from unrecorded sales generated in a disclosed business is assessable only to the embedded profit, absent evidence of unexplained investment or an independent undisclosed activity. Because gross receipts recover both cost and profit, historical profitability provides an objective estimation basis; a moderately higher margin may apply to incremental out-of-books realisation. Profit was estimated at 2%, restricting the turnover addition to that amount; the evidentiary value of individual Excel sheets remained undecided. Cash-payment disallowance requires payment-wise, person-wise and day-wise verification against the prescribed limit, rather than yearly ledger aggregates. Claimed Rule 6DD exceptions require supporting-material verification, and the disallowance was remanded for that limited examination.
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