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...
Unexplained cash credit addition u/s 68 during demonetization period - assessee unable to substantiate contentions regarding cash receipts from sales and debt recoveries with corroborative evidence. Mismatch in closing and opening cash balances noted, assessee failed to disprove before authorities. While books not rejected, verification required regarding closing cash balance as on 31.03.2016, matching with 01.04.2016 opening balance, verification of sales bills/books, impact of cash collected from debtors on returned income. Matter remitted to Assessing Officer for fresh adjudication after verification and providing reasonable opportunity of hearing to assessee.
Unexplained cash credit addition u/s 68 during demonetization period - assessee unable to substantiate contentions regarding cash receipts from sales and debt recoveries with corroborative evidence. Mismatch in closing and opening cash balances noted, assessee failed to disprove before authorities. While books not rejected, verification required regarding closing cash balance as on 31.03.2016, matching with 01.04.2016 opening balance, verification of sales bills/books, impact of cash collected from debtors on returned income. Matter remitted to Assessing Officer for fresh adjudication after verification and providing reasonable opportunity of hearing to assessee.
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