Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Penalty u/s 271(1)(c) - inadvertent omission - when the assessee had disclosed the deduction pertaining to sale of the three shops from the ‘block of assets’ in its balance sheet then there is substantial force in its claim that the failure to offer LTCG on the sale of the said shops had inadvertently remained omitted to be shown in the return of income - only be described as a human error - no penalty
Penalty u/s 271(1)(c) - inadvertent omission - when the assessee had disclosed the deduction pertaining to sale of the three shops from the ‘block of assets’ in its balance sheet then there is substantial force in its claim that the failure to offer LTCG on the sale of the said shops had inadvertently remained omitted to be shown in the return of income - only be described as a human error - no penalty
Note: It is a system-generated summary and is for quick reference only.
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