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...
Disallowance u/s 37(1) - payments of expenditure by way of cash - Assessee has incurred 90% of expenses by way of cheque, meaning thereby, in case of business necessity only the assessee has been incurring expenses by way of cash. - Since the vouchers form part of regular books of accounts maintained by the assessee, the same cannot be considered as additional evidences. - this issue may be put to rest by disallowing 5% of expenses incurred by way of cash exceeding ₹ 20,000/-
Disallowance u/s 37(1) - payments of expenditure by way of cash - Assessee has incurred 90% of expenses by way of cheque, meaning thereby, in case of business necessity only the assessee has been incurring expenses by way of cash. - Since the vouchers form part of regular books of accounts maintained by the assessee, the same cannot be considered as additional evidences. - this issue may be put to rest by disallowing 5% of expenses incurred by way of cash exceeding ₹ 20,000/-
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