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 upheld the CIT(A)'s deletion of an addition under s. 69C, finding the AO's treatment legally unsustainable. The AO ignored comprehensive documentary evidence submitted by the assessee - ledger entries, supplier invoices, delivery challans, inventory registers, bank remittances, vehicle entry/exit records, lorry receipts and warehouse log books - and did not dispute their veracity. The tribunal noted the supplier's GST cancellation postdated the challenged purchases, undermining the AO's sham-transaction assertion. Given the assessee's substantiation and the AO's failure to engage with or controvert the evidence, ITAT confirmed that the addition was unjustified and upheld relief granted by the CIT(A).
ITAT upheld the CIT(A)'s deletion of an addition under s. 69C, finding the AO's treatment legally unsustainable. The AO ignored comprehensive documentary evidence submitted by the assessee - ledger entries, supplier invoices, delivery challans, inventory registers, bank remittances, vehicle entry/exit records, lorry receipts and warehouse log books - and did not dispute their veracity. The tribunal noted the supplier's GST cancellation postdated the challenged purchases, undermining the AO's sham-transaction assertion. Given the assessee's substantiation and the AO's failure to engage with or controvert the evidence, ITAT confirmed that the addition was unjustified and upheld relief granted by the CIT(A).
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