Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
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Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Disallowance of loss from trading in penny shares was rejected. The Assessing Officer's finding that the trading loss was not commercially prudent was not accepted. The transactions were not proven bogus, merely intended to neutralize gains. The Assessing Officer selectively interpreted facts, ignoring high trading volumes in those shares. Allegations of market rigging were unfounded. Following precedent, the addition was deleted with consequential relief.
Disallowance of loss from trading in penny shares was rejected. The Assessing Officer's finding that the trading loss was not commercially prudent was not accepted. The transactions were not proven bogus, merely intended to neutralize gains. The Assessing Officer selectively interpreted facts, ignoring high trading volumes in those shares. Allegations of market rigging were unfounded. Following precedent, the addition was deleted with consequential relief.
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