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 held that the Assessing Officer (AO) erroneously attempted to add net revenue from sales and purchases, which would result in double taxation. The AO's approach improperly sought to add income already declared by the assessee, despite not rejecting the books of accounts. CIT(A) and ITAT correctly identified that the proposed additions would tax the same income twice. The assessee's declared income already encompassed the revenue in question, and the AO failed to provide substantive evidence warranting additional taxation. Consequently, the court affirmed the lower appellate authorities' decision, ruling in favor of the assessee and preventing improper double taxation of the same income.
HC held that the Assessing Officer (AO) erroneously attempted to add net revenue from sales and purchases, which would result in double taxation. The AO's approach improperly sought to add income already declared by the assessee, despite not rejecting the books of accounts. CIT(A) and ITAT correctly identified that the proposed additions would tax the same income twice. The assessee's declared income already encompassed the revenue in question, and the AO failed to provide substantive evidence warranting additional taxation. Consequently, the court affirmed the lower appellate authorities' decision, ruling in favor of the assessee and preventing improper double taxation of the same income.
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