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...
Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the purpose of valuation of the know-how and same in isolation has not created any asset nor has it added any value in the know-how of the assessee - expenditure is in the revenue field and allowable u/s 37(1)
Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the purpose of valuation of the know-how and same in isolation has not created any asset nor has it added any value in the know-how of the assessee - expenditure is in the revenue field and allowable u/s 37(1)
Note: It is a system-generated summary and is for quick reference only.
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