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...
ITAT set aside penalty under s271DA for cash receipts exceeding Rs. 2 lakhs, finding reasonable cause in taxpayer's interpretation of s269ST's "single transaction" language. Taxpayer maintained proper documentation of agricultural sellers including Aadhar, land records and Form 60, with no evidence of tax evasion. Distinguished from s40A(3), s269SS and s269T which use "aggregate" terminology. Being first year of new provision, taxpayer's bona fide belief that limit applied per individual receipt rather than cumulative total was plausible. Following Supreme Court precedent that penalties are quasi-criminal requiring more than technical breach, ITAT deleted penalty noting proper accounting and absence of black money allegations.
ITAT set aside penalty under s271DA for cash receipts exceeding Rs. 2 lakhs, finding reasonable cause in taxpayer's interpretation of s269ST's "single transaction" language. Taxpayer maintained proper documentation of agricultural sellers including Aadhar, land records and Form 60, with no evidence of tax evasion. Distinguished from s40A(3), s269SS and s269T which use "aggregate" terminology. Being first year of new provision, taxpayer's bona fide belief that limit applied per individual receipt rather than cumulative total was plausible. Following Supreme Court precedent that penalties are quasi-criminal requiring more than technical breach, ITAT deleted penalty noting proper accounting and absence of black money allegations.
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