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 ruled in favor of the assessee, setting aside PCIT's revision order under Section 263. The tribunal found that the assessee could not be held responsible for Form 3CL being in the old format or not electronically filed, as the form is issued by the Department of Scientific and Industrial Research. Similarly, Form 3CLA is to be submitted to the department, not the AO. The in-house R&D centre was approved, and the competent authority had issued Form 3CL as required. Consequently, the PCIT's grounds for revision were deemed unsustainable, and the original assessment order was restored.
ITAT ruled in favor of the assessee, setting aside PCIT's revision order under Section 263. The tribunal found that the assessee could not be held responsible for Form 3CL being in the old format or not electronically filed, as the form is issued by the Department of Scientific and Industrial Research. Similarly, Form 3CLA is to be submitted to the department, not the AO. The in-house R&D centre was approved, and the competent authority had issued Form 3CL as required. Consequently, the PCIT's grounds for revision were deemed unsustainable, and the original assessment order was restored.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
