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 directed deletion of additions made by the AO that were founded solely on discrepancies between amounts in Form 26AS and the assessee's cash-basis books, concluding that entries in Form 26AS do not constitute taxable income where the assessee follows cash accounting and has furnished corroborative evidence. Specific additions relating to unidentified payers, a corporate payor, and East West Pipeline Ltd. were deleted; an invoice amount not received was also held non-taxable. A residual discrepancy of Rs.61,500 relating to Rosmerta HSRP Ventures Pvt. Ltd. was remitted to the AO for verification. The AO is directed to verify overall group receipts under the cash system, afford the assessee opportunity to be heard, and may invoke section 133(6) for fact-finding.
ITAT directed deletion of additions made by the AO that were founded solely on discrepancies between amounts in Form 26AS and the assessee's cash-basis books, concluding that entries in Form 26AS do not constitute taxable income where the assessee follows cash accounting and has furnished corroborative evidence. Specific additions relating to unidentified payers, a corporate payor, and East West Pipeline Ltd. were deleted; an invoice amount not received was also held non-taxable. A residual discrepancy of Rs.61,500 relating to Rosmerta HSRP Ventures Pvt. Ltd. was remitted to the AO for verification. The AO is directed to verify overall group receipts under the cash system, afford the assessee opportunity to be heard, and may invoke section 133(6) for fact-finding.
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