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...
Additions against Over-invoicing of Purchases - The Tribunal found that the AO's selective reliance on pieces of evidence without considering the entirety of the material was unjustified. Consequently, the Tribunal upheld the CIT(A)'s decision to delete the additions related to over-invoicing. - Regarding the undervaluation of stock, the Tribunal observed that the documents presumed to demonstrate unexplained investment were prepared for strategic purposes, showcasing notional values for presentation to potential investors. It was determined that these notional figures could not form the basis for additions under section 69B.
Additions against Over-invoicing of Purchases - The Tribunal found that the AO's selective reliance on pieces of evidence without considering the entirety of the material was unjustified. Consequently, the Tribunal upheld the CIT(A)'s decision to delete the additions related to over-invoicing. - Regarding the undervaluation of stock, the Tribunal observed that the documents presumed to demonstrate unexplained investment were prepared for strategic purposes, showcasing notional values for presentation to potential investors. It was determined that these notional figures could not form the basis for additions under section 69B.
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