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...
HC quashed Tribunal's order regarding reopening of assessment based on alleged non-disclosure of unabsorbed investment allowance. The Tribunal erroneously concluded that depreciation claims for trial production machinery weren't shown in computation statements, despite no such requirement existing. Examining orders under s.143(3) and reassessment order dated 29.10.1999, AO had thoroughly considered depreciation based on complete disclosure by assessee. Finding no failure in true and full disclosure of material facts, HC deemed Tribunal's rejection of Misc. Application perverse. Matter remanded to Tribunal for fresh de-novo order, with assessee's Misc. Application allowed.
HC quashed Tribunal's order regarding reopening of assessment based on alleged non-disclosure of unabsorbed investment allowance. The Tribunal erroneously concluded that depreciation claims for trial production machinery weren't shown in computation statements, despite no such requirement existing. Examining orders under s.143(3) and reassessment order dated 29.10.1999, AO had thoroughly considered depreciation based on complete disclosure by assessee. Finding no failure in true and full disclosure of material facts, HC deemed Tribunal's rejection of Misc. Application perverse. Matter remanded to Tribunal for fresh de-novo order, with assessee's Misc. Application allowed.
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