Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
Contemporaneous invoices, GST returns, bank statements and ledger accounts can substantiate labour and manpower expenditure where payments pass through banking channels, tax is deducted at source, and transactions appear in GST records and audited accounts. A vendor's failure to respond to a notice, particularly after being struck off, does not by itself establish that expenditure is unexplained when the supporting evidence remains unrebutted and no further enquiry is undertaken. Purchases included in closing stock and returned in the following year do not affect income where no supplier payment or expenditure claim is made and related GST input is reversed. On these facts, both additions for unexplained expenditure were deleted.
Contemporaneous invoices, GST returns, bank statements and ledger accounts can substantiate labour and manpower expenditure where payments pass through banking channels, tax is deducted at source, and transactions appear in GST records and audited accounts. A vendor's failure to respond to a notice, particularly after being struck off, does not by itself establish that expenditure is unexplained when the supporting evidence remains unrebutted and no further enquiry is undertaken. Purchases included in closing stock and returned in the following year do not affect income where no supplier payment or expenditure claim is made and related GST input is reversed. On these facts, both additions for unexplained expenditure were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
