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 deleted additions under s.69B for alleged cash payment for old machinery purchase, finding the printout was not a "speaking document" that could sustain charges without corroborative evidence. The tribunal noted M/s Chetak Enterprises denied receiving cash, and the machinery's market value aligned with the valuation report. Similarly, additions under s.69C for alleged cash payments to suppliers were deleted as there was no admission of cash transactions from either the appellant or recipients, with evidence showing payments were made through banking channels. The ITAT criticized the AO for failing to gather corroborative evidence or allowing cross-examination of the alleged recipients, concluding there was no justification for sustaining either addition.
ITAT deleted additions under s.69B for alleged cash payment for old machinery purchase, finding the printout was not a "speaking document" that could sustain charges without corroborative evidence. The tribunal noted M/s Chetak Enterprises denied receiving cash, and the machinery's market value aligned with the valuation report. Similarly, additions under s.69C for alleged cash payments to suppliers were deleted as there was no admission of cash transactions from either the appellant or recipients, with evidence showing payments were made through banking channels. The ITAT criticized the AO for failing to gather corroborative evidence or allowing cross-examination of the alleged recipients, concluding there was no justification for sustaining either addition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
