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...
Levy of penalty u/s 271(1)(c) - Denial of exemption of capital gains u/s 10(38) on account of sale of shares - The Tribunal also emphasized that the Revenue had failed to provide an opportunity for cross-examination to the assessee, which was a violation of the principles of natural justice. It noted judgments that stressed the importance of allowing the assessee to rebut any adverse evidence. The Tribunal concluded that in the absence of the quantum addition, the penalty under Section 271(1)(c) could not stand.
Levy of penalty u/s 271(1)(c) - Denial of exemption of capital gains u/s 10(38) on account of sale of shares - The Tribunal also emphasized that the Revenue had failed to provide an opportunity for cross-examination to the assessee, which was a violation of the principles of natural justice. It noted judgments that stressed the importance of allowing the assessee to rebut any adverse evidence. The Tribunal concluded that in the absence of the quantum addition, the penalty under Section 271(1)(c) could not stand.
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