Provisional attachment fails without material showing likely concealment, transfer, or dealing that could frustrate confiscation of mortgaged property...
Works-contract goods transfers remain outside service tax, while qualifying lift irrigation works receive exemption and extended limitation cannot app...
Customs assessment information portal centralises rulings and guidance to promote consistent classification, valuation, transparency and informed comp...
Composite show-cause notices spanning multiple financial years are jurisdictionally invalid, allowing writ review despite an alternative appellate rem...
Embedded profit, rather than the entire value of alleged bogus diamond purchases, is taxable where books of account remain accepted, stock and quantitative records show no adverse discrepancy, and corresponding sales are not disproved. Where accommodation bills cover goods actually sourced from other parties, the addition should be confined to the profit arising from that arrangement. A 3% profit estimate applies where no distinguishing material warrants a different estimate, including for later assessment years involving identical transaction facts.
Embedded profit, rather than the entire value of alleged bogus diamond purchases, is taxable where books of account remain accepted, stock and quantitative records show no adverse discrepancy, and corresponding sales are not disproved. Where accommodation bills cover goods actually sourced from other parties, the addition should be confined to the profit arising from that arrangement. A 3% profit estimate applies where no distinguishing material warrants a different estimate, including for later assessment years involving identical transaction facts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
