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 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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