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 allowed the appeal of the assessee (an AOP), held that receipts characterised as donations returned to the entity did not attract exclusion under principles of mutuality, and directed the AO to delete the disallowances and additions. The Tribunal found the assessee's dominant activity (petrol bunk business) involved sales to members and non-members, discounts/rebates constituted ordinary business expenditure and were allowable under the tax law when net profit was offered to tax. The Tribunal rejected the AO's recharacterisation and reassessment under jurisdictional review, concluded there was identity between contributors and beneficiaries, distinguished the contrary authority, and upheld the assessee's return of income.
ITAT allowed the appeal of the assessee (an AOP), held that receipts characterised as donations returned to the entity did not attract exclusion under principles of mutuality, and directed the AO to delete the disallowances and additions. The Tribunal found the assessee's dominant activity (petrol bunk business) involved sales to members and non-members, discounts/rebates constituted ordinary business expenditure and were allowable under the tax law when net profit was offered to tax. The Tribunal rejected the AO's recharacterisation and reassessment under jurisdictional review, concluded there was identity between contributors and beneficiaries, distinguished the contrary authority, and upheld the assessee's return of income.
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