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...
Assessee's contention upheld that for AY 2019-20, profit is required to be set off against business loss of AY 2018-19 and remaining profit against brought forward unabsorbed depreciation from AY 2013-14 to AY 2018-19, resulting in no taxable income. Reopening u/s 263(1) merely for inquiries futile as carry forward of depreciation no longer debatable after Supreme Court ruling. Revision order u/s 263 quashed. Assessee's appeal allowed.
Assessee's contention upheld that for AY 2019-20, profit is required to be set off against business loss of AY 2018-19 and remaining profit against brought forward unabsorbed depreciation from AY 2013-14 to AY 2018-19, resulting in no taxable income. Reopening u/s 263(1) merely for inquiries futile as carry forward of depreciation no longer debatable after Supreme Court ruling. Revision order u/s 263 quashed. Assessee's appeal allowed.
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