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...
Penalty u/s 271(1)(c) - addition made on account of mistake in treating the income from transfer of depreciable asset as long-term capital gain instead of short term capital gain u/s 50 - The High Court allowed the appeal, stating that there was no concealment of income or furnishing of inaccurate particulars. It emphasized that a mere incorrect claim in law does not amount to furnishing inaccurate particulars.
Penalty u/s 271(1)(c) - addition made on account of mistake in treating the income from transfer of depreciable asset as long-term capital gain instead of short term capital gain u/s 50 - The High Court allowed the appeal, stating that there was no concealment of income or furnishing of inaccurate particulars. It emphasized that a mere incorrect claim in law does not amount to furnishing inaccurate particulars.
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