Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT allowed assessee's appeal for statistical purposes regarding addition under section 69A for unexplained cash deposits allegedly from vegetable and milk sales. Tribunal found assessee failed to provide documentary evidence of milk and vegetable supplies across India, transportation proof, or satisfactory explanation for frequent cash withdrawals following deposits. However, ITAT accepted assessee's legal contention that cash deposits cannot be treated as undisclosed income without crediting prior withdrawals from the same bank account, unless revenue demonstrates alternative utilization of withdrawn cash. Matter remanded to Assessing Officer for verification and determination per established legal principles requiring credit for withdrawals when assessing unexplained deposits in identical bank accounts.
ITAT allowed assessee's appeal for statistical purposes regarding addition under section 69A for unexplained cash deposits allegedly from vegetable and milk sales. Tribunal found assessee failed to provide documentary evidence of milk and vegetable supplies across India, transportation proof, or satisfactory explanation for frequent cash withdrawals following deposits. However, ITAT accepted assessee's legal contention that cash deposits cannot be treated as undisclosed income without crediting prior withdrawals from the same bank account, unless revenue demonstrates alternative utilization of withdrawn cash. Matter remanded to Assessing Officer for verification and determination per established legal principles requiring credit for withdrawals when assessing unexplained deposits in identical bank accounts.
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