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 deleted the additions made by the AO and sustained by the CIT(A), holding that expenses were incurred wholly and exclusively for the assessee's business activities as a sole proprietor and as a working partner in two firms. The Tribunal found the AO's proportionate disallowance rested on an erroneous factual premise that the assessee was a working partner in only one firm; Revenue adduced no material to rebut the business nexus of the expenditures. Consequently the CIT(A)'s order sustaining the disallowance was set aside and the impugned additions deleted.
ITAT allowed the assessee's appeal and deleted the additions made by the AO and sustained by the CIT(A), holding that expenses were incurred wholly and exclusively for the assessee's business activities as a sole proprietor and as a working partner in two firms. The Tribunal found the AO's proportionate disallowance rested on an erroneous factual premise that the assessee was a working partner in only one firm; Revenue adduced no material to rebut the business nexus of the expenditures. Consequently the CIT(A)'s order sustaining the disallowance was set aside and the impugned additions deleted.
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