Residual food-preparation classification places fermented Nata De Coco outside fruit-jelly categories, changing its GST treatment across notified peri...
Settlement application eligibility requires a pending assessment when filed, preventing an extra prior-eligibility condition from blocking considerati...
Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
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The ITAT held that the approval under section 151 without a valid manual or digital signature is invalid, rendering the subsequent notice under section 148 void for lack of jurisdiction; thus, the reassessment order under section 143(3) read with section 147 was quashed. The issuance of notice under section 148 by a JAO was upheld as valid under the faceless regime. Income from sale of scrap was held to be business income, not unexplained cash under section 69A, and the estimated additions on this account were partly deleted, with the profit estimated using the PBT percentage from regular books. Out-of-books expenses disallowance under section 69C was deleted. Bogus salary and professional fees disallowance under section 37(1) was reversed. Certain estimated disallowances were sustained. Additions based on diary entries were largely disallowed due to inadequate proof of unexplained income. Business promotion expenses were fully allowed as wholly and exclusively incurred for business.
The ITAT held that the approval under section 151 without a valid manual or digital signature is invalid, rendering the subsequent notice under section 148 void for lack of jurisdiction; thus, the reassessment order under section 143(3) read with section 147 was quashed. The issuance of notice under section 148 by a JAO was upheld as valid under the faceless regime. Income from sale of scrap was held to be business income, not unexplained cash under section 69A, and the estimated additions on this account were partly deleted, with the profit estimated using the PBT percentage from regular books. Out-of-books expenses disallowance under section 69C was deleted. Bogus salary and professional fees disallowance under section 37(1) was reversed. Certain estimated disallowances were sustained. Additions based on diary entries were largely disallowed due to inadequate proof of unexplained income. Business promotion expenses were fully allowed as wholly and exclusively incurred for business.
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