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 partly allowed the appeal in respect of additions under s.69A r.w.s. and s.115BBE arising from a search at common family premises. The AO's jewellery additions were deleted by the CIT(A) on factual analysis that the jewellery belonged to the family; Revenue did not challenge that finding, rendering it final. As to wrist watches, the AO had attributed all watches to the assessee, but CIT(A) found they were located in a shared residence occupied by multiple family members and, given the family's status and absence of purchase particulars, declined to uphold additions based on contemporary market valuation. The net result is deletion of jewellery additions and rejection of watch additions, with the appeal therefore partly allowed.
ITAT partly allowed the appeal in respect of additions under s.69A r.w.s. and s.115BBE arising from a search at common family premises. The AO's jewellery additions were deleted by the CIT(A) on factual analysis that the jewellery belonged to the family; Revenue did not challenge that finding, rendering it final. As to wrist watches, the AO had attributed all watches to the assessee, but CIT(A) found they were located in a shared residence occupied by multiple family members and, given the family's status and absence of purchase particulars, declined to uphold additions based on contemporary market valuation. The net result is deletion of jewellery additions and rejection of watch additions, with the appeal therefore partly allowed.
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