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...
Reopening of assessment - Addition u/s 68 - unsecured loans treated as bogus - reassessment merely based on information from investigation wing held unjustified. Powers of assessing officer to reopen wide but not plenary - "reason to believe" required, not mere "reason to suspect". Belief must be of honest, reasonable person based on reasonable grounds, not suspicion or rumour. Assessing officer acted without jurisdiction if reason for belief of escaped income non-existent or irrelevant. Assessee furnished sufficient documents proving identity, creditworthiness of creditors, genuineness of transactions. Creditor's assessment order accepted creditworthiness. Hence, addition u/s 68 unwarranted.
Reopening of assessment - Addition u/s 68 - unsecured loans treated as bogus - reassessment merely based on information from investigation wing held unjustified. Powers of assessing officer to reopen wide but not plenary - "reason to believe" required, not mere "reason to suspect". Belief must be of honest, reasonable person based on reasonable grounds, not suspicion or rumour. Assessing officer acted without jurisdiction if reason for belief of escaped income non-existent or irrelevant. Assessee furnished sufficient documents proving identity, creditworthiness of creditors, genuineness of transactions. Creditor's assessment order accepted creditworthiness. Hence, addition u/s 68 unwarranted.
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