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...
ITAT ruled the assessment order invalid due to procedural deficiencies and lack of proper jurisdiction. The AO failed to issue mandatory notice under Section 143(2) before assessment, which the SC has established as sine qua non for jurisdictional validity. The assessment order was deemed cryptic, lacking detailed analysis of transactions, correlation with books of accounts, and source identification for alleged unexplained cash credits. The AO also failed to address the assessee's objections regarding reopening of assessment. Despite similar grounds for reopening assessment in AY 2012-13, no additions were made for that year. The tribunal quashed the reopening as legally defective and found the additions unsustainable on merits. Appeal allowed in favor of assessee.
ITAT ruled the assessment order invalid due to procedural deficiencies and lack of proper jurisdiction. The AO failed to issue mandatory notice under Section 143(2) before assessment, which the SC has established as sine qua non for jurisdictional validity. The assessment order was deemed cryptic, lacking detailed analysis of transactions, correlation with books of accounts, and source identification for alleged unexplained cash credits. The AO also failed to address the assessee's objections regarding reopening of assessment. Despite similar grounds for reopening assessment in AY 2012-13, no additions were made for that year. The tribunal quashed the reopening as legally defective and found the additions unsustainable on merits. Appeal allowed in favor of assessee.
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