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 held that the Assessing Officer failed to comply with statutory prerequisites for initiating proceedings under s.153C: no independent satisfaction was recorded that seized documents did not belong to the person from whose possession they were seized, and no separate per-assessment-year satisfactions were recorded for the assessee, the AO having relied on a single consolidated satisfaction note covering multiple entities. Further, no draft assessment was issued as required by s.144C(1). Consequent assessments premised on the defective s.153C exercise were vitiated. ITAT upheld the CIT(A)'s order setting aside the final assessments and restored relief to the assessee.
ITAT held that the Assessing Officer failed to comply with statutory prerequisites for initiating proceedings under s.153C: no independent satisfaction was recorded that seized documents did not belong to the person from whose possession they were seized, and no separate per-assessment-year satisfactions were recorded for the assessee, the AO having relied on a single consolidated satisfaction note covering multiple entities. Further, no draft assessment was issued as required by s.144C(1). Consequent assessments premised on the defective s.153C exercise were vitiated. ITAT upheld the CIT(A)'s order setting aside the final assessments and restored relief to the assessee.
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