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...
The Appellate Tribunal considered two main issues: 1. Addition u/s 37(1) - Assessee incurred business loss due to default in property payment, allowed as revenue loss. 2. Non-referral to DVO for property valuation - AO's additions deleted as assessee sold property below stamp valuation, objections ignored. Tribunal dismissed Revenue's appeal, upholding CIT(A)'s decision on both issues. The Tribunal rejected reliance on a non-jurisdictional case cited by the Revenue.
The Appellate Tribunal considered two main issues: 1. Addition u/s 37(1) - Assessee incurred business loss due to default in property payment, allowed as revenue loss. 2. Non-referral to DVO for property valuation - AO's additions deleted as assessee sold property below stamp valuation, objections ignored. Tribunal dismissed Revenue's appeal, upholding CIT(A)'s decision on both issues. The Tribunal rejected reliance on a non-jurisdictional case cited by the Revenue.
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