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...
AO made addition u/s 69A treating assessee's cash deposits during demonetization period as unexplained income on assumption of inflated/bogus sales without any cogent evidence. ITAT allowed assessee's appeal holding that AO cannot calculate sales hypothetically ignoring VAT returns, purchase bills, quantitative details etc. once sales were accepted and no deficiency pointed out in books of account. Mere substantial increase in turnover during demonetization without evidence of bogus sales is insufficient for addition.
AO made addition u/s 69A treating assessee's cash deposits during demonetization period as unexplained income on assumption of inflated/bogus sales without any cogent evidence. ITAT allowed assessee's appeal holding that AO cannot calculate sales hypothetically ignoring VAT returns, purchase bills, quantitative details etc. once sales were accepted and no deficiency pointed out in books of account. Mere substantial increase in turnover during demonetization without evidence of bogus sales is insufficient for addition.
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