Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Reopening of assessment - reasons to believe - The reasons as recorded at the highest, can only be termed as “a suspicion subject to a case of fishing inquiry”. Even though the Revenue has a greater latitude in re-opening an assessment where the return of income has been processed u/s 143(1) of the Act, even in such cases the re-opening of an assessment can only be done if there is reason to believe that income chargeable to tax has escaped assessment. - HC
Reopening of assessment - reasons to believe - The reasons as recorded at the highest, can only be termed as “a suspicion subject to a case of fishing inquiry”. Even though the Revenue has a greater latitude in re-opening an assessment where the return of income has been processed u/s 143(1) of the Act, even in such cases the re-opening of an assessment can only be done if there is reason to believe that income chargeable to tax has escaped assessment. - HC
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