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...
Revision u/s 263 by CIT - no enquiry v/s incomplete enquiry - The valuation was carried at the insistence of the ld. AO to verify the physical existence of the property and overall value of investment. It is not a case of ‘no’ enquiry nor incomplete enquiry rather the Ld. AO to the best of his ability had made detailed enquiry and made proper application of mind and had examined this issue of deduction u/s 54F of the Act. - In the given facts and circumstances invoking provisions of section 263 of the Act on this issue so as to give direction to revise the assessment order was unjustified and uncalled for - AT
Revision u/s 263 by CIT - no enquiry v/s incomplete enquiry - The valuation was carried at the insistence of the ld. AO to verify the physical existence of the property and overall value of investment. It is not a case of ‘no’ enquiry nor incomplete enquiry rather the Ld. AO to the best of his ability had made detailed enquiry and made proper application of mind and had examined this issue of deduction u/s 54F of the Act. - In the given facts and circumstances invoking provisions of section 263 of the Act on this issue so as to give direction to revise the assessment order was unjustified and uncalled for - AT
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