Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Revision u/s 263 - Enhancement of valuation of closing stock - assessee could not point out any defect or discrepancy in the recomputation made by Pr. CIT for computation of closing stock by adopting FIFO method. As we have already observed that there is no enquiry by the AO on this issue in the assessment order, therefore, in our considered view, the Ld. Pr. CIT was correct in holding the assessment as erroneous and prejudicial to the interest of the Revenue - AT
Revision u/s 263 - Enhancement of valuation of closing stock - assessee could not point out any defect or discrepancy in the recomputation made by Pr. CIT for computation of closing stock by adopting FIFO method. As we have already observed that there is no enquiry by the AO on this issue in the assessment order, therefore, in our considered view, the Ld. Pr. CIT was correct in holding the assessment as erroneous and prejudicial to the interest of the Revenue - AT
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