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...
Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee contended that in the absence of any incriminating material seized from the premises, no addition could have been made u/s 153C for the assessment year under consideration. It was held that the Assessing Officer (AO) did not consider or hold the cash found as unexplained cash of the assessee, and it cannot be automatically subsumed in the addition related to 'on-money' without an express finding by the AO. The AO made an addition related to on-money based on material impounded during the survey and not under the search action. Therefore, no addition could have been made by the AO in assessments completed for the assessment years 2013-14 to 2016-17 invoking Section 153C/153A of the Act. Even if the cash found was considered undisclosed income for the assessment year 2017-18, no addition can be made for the assessment years 2013-14 to 2016-17. The additions made without any incriminating material found in the search were deleted, and the decision was in favor of the assessee. Regarding the validity of assessment proceedings u/s 153C/153A beyond the period of limitation and the selection of the initial assessment year.
Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee contended that in the absence of any incriminating material seized from the premises, no addition could have been made u/s 153C for the assessment year under consideration. It was held that the Assessing Officer (AO) did not consider or hold the cash found as unexplained cash of the assessee, and it cannot be automatically subsumed in the addition related to 'on-money' without an express finding by the AO. The AO made an addition related to on-money based on material impounded during the survey and not under the search action. Therefore, no addition could have been made by the AO in assessments completed for the assessment years 2013-14 to 2016-17 invoking Section 153C/153A of the Act. Even if the cash found was considered undisclosed income for the assessment year 2017-18, no addition can be made for the assessment years 2013-14 to 2016-17. The additions made without any incriminating material found in the search were deleted, and the decision was in favor of the assessee. Regarding the validity of assessment proceedings u/s 153C/153A beyond the period of limitation and the selection of the initial assessment year.
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