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 dismissed the assessee's appeal, confirming the addition of silver bars to the assessee's taxable income. The tribunal rejected the assessee's claim that the silver belonged to his brother, finding no credible supporting evidence. The affidavit submitted post-search was deemed an afterthought, lacking substantive proof. Given the absence of corroborative documentation and the consistent assessment by the Assessing Officer, the tribunal upheld the original addition, determining the silver bars were part of the assessee's undisclosed assets. The appeal was consequently dismissed, with the CIT(A)'s order remaining intact.
ITAT dismissed the assessee's appeal, confirming the addition of silver bars to the assessee's taxable income. The tribunal rejected the assessee's claim that the silver belonged to his brother, finding no credible supporting evidence. The affidavit submitted post-search was deemed an afterthought, lacking substantive proof. Given the absence of corroborative documentation and the consistent assessment by the Assessing Officer, the tribunal upheld the original addition, determining the silver bars were part of the assessee's undisclosed assets. The appeal was consequently dismissed, with the CIT(A)'s order remaining intact.
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