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 assessee's appeal and quashed the revisional order passed under s.263. The Tribunal held that the CIT failed to demonstrate any substantive material showing the impugned receipts were not professional income or that they fell within s.69/69A/69B; accordingly there was no justification to invoke s.115BBE. The AO had issued a s.142(1) questionnaire, the assessee furnished specific replies, and the AO accepted the claim and taxed the receipts at the normal rate. Mere absence of extended discussion in the assessment order did not render the order erroneous or lead to s.263 action. The revisional order was therefore set aside.
ITAT allowed the assessee's appeal and quashed the revisional order passed under s.263. The Tribunal held that the CIT failed to demonstrate any substantive material showing the impugned receipts were not professional income or that they fell within s.69/69A/69B; accordingly there was no justification to invoke s.115BBE. The AO had issued a s.142(1) questionnaire, the assessee furnished specific replies, and the AO accepted the claim and taxed the receipts at the normal rate. Mere absence of extended discussion in the assessment order did not render the order erroneous or lead to s.263 action. The revisional order was therefore set aside.
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