Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The AT affirmed the impugned order and dismissed the appeal, upholding the PAO dated 22.12.2017 under ss.24(4)(a)(i) and 24(4)(b)(i) of the PBPTA. The Tribunal found the Appellant failed to adduce evidence of delivery or transportation of the alleged gold, and discrepancies-invoice shortfall, unexplained credits to a third party's account, post-invoice bank transfers, and transactions confined to the demonetisation period-rendered the dealings suspect. The Appellant's failure to undertake due diligence and the production of a fraudulent PAN, corroborated by investigative statements, led the AT to conclude the receipts totalling approximately Rs.51.7 lakh constituted benami transactions within the meaning of s.2(9A) PBPTA.
The AT affirmed the impugned order and dismissed the appeal, upholding the PAO dated 22.12.2017 under ss.24(4)(a)(i) and 24(4)(b)(i) of the PBPTA. The Tribunal found the Appellant failed to adduce evidence of delivery or transportation of the alleged gold, and discrepancies-invoice shortfall, unexplained credits to a third party's account, post-invoice bank transfers, and transactions confined to the demonetisation period-rendered the dealings suspect. The Appellant's failure to undertake due diligence and the production of a fraudulent PAN, corroborated by investigative statements, led the AT to conclude the receipts totalling approximately Rs.51.7 lakh constituted benami transactions within the meaning of s.2(9A) PBPTA.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
