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 adjudicated two primary issues: (1) International transaction involving Standby Letter of Credit (SBLC) and (2) Deduction under Section 80G for charitable donation. In the SBLC matter, the Tribunal held that issuance of SBLC to Associated Enterprise can be subject to Arm's Length Price (ALP) tests, directing Assessing Officer to consider 0.5% rate instead of 1.3%. Regarding donation, the Tribunal restored the matter to Assessing Officer, providing opportunity to re-examine the receipt's authenticity and accounting period, with liberty to allow Section 80G deduction if the assessee satisfactorily demonstrates the trust's proper accounting of the donated funds.
ITAT adjudicated two primary issues: (1) International transaction involving Standby Letter of Credit (SBLC) and (2) Deduction under Section 80G for charitable donation. In the SBLC matter, the Tribunal held that issuance of SBLC to Associated Enterprise can be subject to Arm's Length Price (ALP) tests, directing Assessing Officer to consider 0.5% rate instead of 1.3%. Regarding donation, the Tribunal restored the matter to Assessing Officer, providing opportunity to re-examine the receipt's authenticity and accounting period, with liberty to allow Section 80G deduction if the assessee satisfactorily demonstrates the trust's proper accounting of the donated funds.
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