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...
Retraction of statement given during survey - evidentiary value of statement recorded u/s 131 - Despite the retraction, the initial findings of the CIT(A) were largely upheld, as the tribunal found no concrete evidence supporting the assessee's claims of coercion, aside from the letter of retraction and an affidavit. The assessee was found to have unexplained excess cash and stock discrepancies. The Tribunal noted the lack of complete physical verification of stock during the survey but ultimately confirmed the addition, adjusting the gross profit rate applied from 10% to 8.02%, acknowledging some merit in the assessee's submissions regarding the survey’s conduct.
Retraction of statement given during survey - evidentiary value of statement recorded u/s 131 - Despite the retraction, the initial findings of the CIT(A) were largely upheld, as the tribunal found no concrete evidence supporting the assessee's claims of coercion, aside from the letter of retraction and an affidavit. The assessee was found to have unexplained excess cash and stock discrepancies. The Tribunal noted the lack of complete physical verification of stock during the survey but ultimately confirmed the addition, adjusting the gross profit rate applied from 10% to 8.02%, acknowledging some merit in the assessee's submissions regarding the survey’s conduct.
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