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...
Estimation of income - Bogus purchases - CIT(A) has disallowed 25% of the purchases on the grounds that the assessee could have made some super profits - The tribunal found that, given the assessee's exports and corresponding sales, purchases were necessary for production. It concurred with the CIT(A)'s decision but adjusted the profit estimation embedded in the bogus purchases to 12.5%, based on judicial precedents and the specific facts of the case.
Estimation of income - Bogus purchases - CIT(A) has disallowed 25% of the purchases on the grounds that the assessee could have made some super profits - The tribunal found that, given the assessee's exports and corresponding sales, purchases were necessary for production. It concurred with the CIT(A)'s decision but adjusted the profit estimation embedded in the bogus purchases to 12.5%, based on judicial precedents and the specific facts of the case.
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