Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Qualification criteria for being an 'informant' under the Income Tax Informants Reward Scheme, 2018. The key points are: the information provided by the petitioner regarding cash deposits and repayment of deposits in violation of Sections 269SS and 269T was already known to the Assessing Officer during the assessment proceedings. Therefore, it cannot be considered as 'undisclosed income and wealth' eligible for reward under the Scheme. Additionally, the information did not lead to the detection of 'substantial tax evasion', which is a prerequisite for receiving the reward. The High Court held that since the transactions were reflected in the books and examined during assessment, the information provided by the petitioner was not new or undisclosed. The Tribunal's findings also did not support allegations of undisclosed income and tax evasion. Consequently, the petitioner's claim for a reward was rejected.
Qualification criteria for being an 'informant' under the Income Tax Informants Reward Scheme, 2018. The key points are: the information provided by the petitioner regarding cash deposits and repayment of deposits in violation of Sections 269SS and 269T was already known to the Assessing Officer during the assessment proceedings. Therefore, it cannot be considered as 'undisclosed income and wealth' eligible for reward under the Scheme. Additionally, the information did not lead to the detection of 'substantial tax evasion', which is a prerequisite for receiving the reward. The High Court held that since the transactions were reflected in the books and examined during assessment, the information provided by the petitioner was not new or undisclosed. The Tribunal's findings also did not support allegations of undisclosed income and tax evasion. Consequently, the petitioner's claim for a reward was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
