Export obligation removed by notification, customs duty demand invalidated; penalties under s.112 and s.114AA quashed due to inadmissible s.108 statem...
Customs officers must wear and use department-issued body-worn cameras when clearing passenger baggage, with daily secure transfer and 30-day retentio...
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ITAT modified the order of the Ld. CIT(A), holding that discrepancies in a third-party GST return cannot alone sustain an addition under s. 69C. The Tribunal found admitted purchases of Rs. 30,42,821 (not Rs. 76,10,580) and concluded the Assessing Officer's estimate was excessive. ITAT directed the AO to compute unexplained income by applying a gross profit rate of 5% on the admitted total purchases, thereby reducing the addition previously upheld by the CIT(A). The appeal of the assessee is partly allowed and remitted for assessment in accordance with this direction.
ITAT modified the order of the Ld. CIT(A), holding that discrepancies in a third-party GST return cannot alone sustain an addition under s. 69C. The Tribunal found admitted purchases of Rs. 30,42,821 (not Rs. 76,10,580) and concluded the Assessing Officer's estimate was excessive. ITAT directed the AO to compute unexplained income by applying a gross profit rate of 5% on the admitted total purchases, thereby reducing the addition previously upheld by the CIT(A). The appeal of the assessee is partly allowed and remitted for assessment in accordance with this direction.
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