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 held that the assessee duly disclosed share holdings in a Hong Kong company during AY 2007-08, which was confirmed by prosecution and session courts. The tribunal noted no evidence of undisclosed investments or cash transactions despite a search. The appellate authority's order deleting additional income was affirmed, finding no procedural or substantive irregularities in the assessee's tax disclosures. The tribunal rejected revenue's contentions, emphasizing factual compliance with tax reporting requirements and absence of material evidence supporting undisclosed income claims.
ITAT held that the assessee duly disclosed share holdings in a Hong Kong company during AY 2007-08, which was confirmed by prosecution and session courts. The tribunal noted no evidence of undisclosed investments or cash transactions despite a search. The appellate authority's order deleting additional income was affirmed, finding no procedural or substantive irregularities in the assessee's tax disclosures. The tribunal rejected revenue's contentions, emphasizing factual compliance with tax reporting requirements and absence of material evidence supporting undisclosed income claims.
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