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 allowed the assessee's appeal challenging tax computation. The CPC's adjustment of tax rate from 25% to 30% was deemed unjustified, primarily because the adjustment was made on a debatable issue regarding gross turnover calculation without providing the assessee an opportunity to be heard, which violated the first proviso to section 143(1). The tribunal found that the issues surrounding service tax input credit, interest income, and recovery of bad debts constituted a complex interpretative matter that could not be summarily resolved through a unilateral adjustment. Consequently, the computational order was set aside, restoring the original tax assessment at 25%.
ITAT allowed the assessee's appeal challenging tax computation. The CPC's adjustment of tax rate from 25% to 30% was deemed unjustified, primarily because the adjustment was made on a debatable issue regarding gross turnover calculation without providing the assessee an opportunity to be heard, which violated the first proviso to section 143(1). The tribunal found that the issues surrounding service tax input credit, interest income, and recovery of bad debts constituted a complex interpretative matter that could not be summarily resolved through a unilateral adjustment. Consequently, the computational order was set aside, restoring the original tax assessment at 25%.
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