Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
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The Tribunal held that the notice issued u/s 148 by the Jurisdictional Assessing Officer (JAO) was invalid as it should have been issued by the Faceless Assessing Officer (FAO) who conducted the assessment proceedings, relying on the Bombay High Court's decision in Hexaware Technologies Ltd. The reopening was based on incorrect information that the assessee had purchased goods from a Pvt. Ltd. company, whereas the facts revealed that the assessee had sold goods worth Rs. 85,69,197/- to same company. The Tribunal further held that the addition made u/s 68 was unjustified as the assessee had already offered the sales for taxation and had discharged its onus by producing overwhelming evidence of the sales recorded in the books of account. Consequently, the ITAT allowed the assessee's appeal.
The Tribunal held that the notice issued u/s 148 by the Jurisdictional Assessing Officer (JAO) was invalid as it should have been issued by the Faceless Assessing Officer (FAO) who conducted the assessment proceedings, relying on the Bombay High Court's decision in Hexaware Technologies Ltd. The reopening was based on incorrect information that the assessee had purchased goods from a Pvt. Ltd. company, whereas the facts revealed that the assessee had sold goods worth Rs. 85,69,197/- to same company. The Tribunal further held that the addition made u/s 68 was unjustified as the assessee had already offered the sales for taxation and had discharged its onus by producing overwhelming evidence of the sales recorded in the books of account. Consequently, the ITAT allowed the assessee's appeal.
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