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...
Additions of income earned - Taxable Person - Land transactions facilitated by a financier but executed in another's name - Taxable in the hands of company or Individual - Protective Assessment in the Hands of Individual - Burden of proof - The tribunal determined that the economic substance of the transactions indicated that Individual acted as a mere financier or conduit rather than as a principal participant. It concluded that the income should not be assessed in the hands of Such Individual as he did not exercise control over the land or the transactions beyond merely being the named party in the documentation. - This case highlights the complexities involved in transactions where the nominal parties do not reflect the true nature of the economic interests at stake.
Additions of income earned - Taxable Person - Land transactions facilitated by a financier but executed in another's name - Taxable in the hands of company or Individual - Protective Assessment in the Hands of Individual - Burden of proof - The tribunal determined that the economic substance of the transactions indicated that Individual acted as a mere financier or conduit rather than as a principal participant. It concluded that the income should not be assessed in the hands of Such Individual as he did not exercise control over the land or the transactions beyond merely being the named party in the documentation. - This case highlights the complexities involved in transactions where the nominal parties do not reflect the true nature of the economic interests at stake.
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