Power bank definition limits the customs-duty exclusion, preserving concessional treatment for stationary, grid-scale and industrial battery storage s...
Packing-material input credits support inverted-duty refunds for packaged tea, while rate-reduction and concessional-supply circulars remain inapplica...
Faceless assessment cannot add the gross sale consideration as capital gains without examining material supporting the cost of acquisition, transfer expenses and reinvestment benefits. Documents and explanations filed online must be considered where their filing is not specifically denied or disputed. An addition made without addressing that material, conducting enquiries or cross-verification, or producing contrary evidence is defective at the root of the assessment. The assessment, consequential demand and penalty actions were quashed, with fresh assessment directed after a personal hearing and a speaking order.
Faceless assessment cannot add the gross sale consideration as capital gains without examining material supporting the cost of acquisition, transfer expenses and reinvestment benefits. Documents and explanations filed online must be considered where their filing is not specifically denied or disputed. An addition made without addressing that material, conducting enquiries or cross-verification, or producing contrary evidence is defective at the root of the assessment. The assessment, consequential demand and penalty actions were quashed, with fresh assessment directed after a personal hearing and a speaking order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
