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...
Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to disallow the LTCG claimed by the assessee, emphasizing that the transactions lacked genuineness despite the documentation provided. The Tribunal concluded that the exemption claimed under Section 10(38) was a façade to conceal the true nature of the transactions, affirming the addition made by the AO.
Addition made u/s 68 - Bogus LTCG - unexplained cash credits - suspicious transactions in shares - penny stock - The Tribunal ultimately upheld the AO's decision to disallow the LTCG claimed by the assessee, emphasizing that the transactions lacked genuineness despite the documentation provided. The Tribunal concluded that the exemption claimed under Section 10(38) was a façade to conceal the true nature of the transactions, affirming the addition made by the AO.
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