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...
Assessee sold ancestral agricultural property for cash consideration to relatives, agriculturists. Though agricultural land sale proceeds exempt u/s 2(14), assessee bona fide believed Section 269SS cash receipt restrictions inapplicable. No intention to generate unaccounted money as sale deed recorded full cash receipt disclosed in return. Assessing Officer accepted returned income in 143(3) order. ITAT deleted 271D penalty, deciding in assessee's favor, violation of 269SS not established given bona fide belief and full disclosure.
Assessee sold ancestral agricultural property for cash consideration to relatives, agriculturists. Though agricultural land sale proceeds exempt u/s 2(14), assessee bona fide believed Section 269SS cash receipt restrictions inapplicable. No intention to generate unaccounted money as sale deed recorded full cash receipt disclosed in return. Assessing Officer accepted returned income in 143(3) order. ITAT deleted 271D penalty, deciding in assessee's favor, violation of 269SS not established given bona fide belief and full disclosure.
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