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 dismissed Revenue's appeals, upholding taxation of the assessee's receipts under Section 44BB rather than as FTS under Section 9(1)(vii) r.w.s. 44DA, following judicial consistency with earlier years in the assessee's own case. On offshore sale of equipment, ITAT accepted the assessee's 2% profit attribution for Indian operations, relying on prior coordinate bench findings that the assessee's selected comparables satisfied FAR analysis and yielded a weighted average margin of 1.69%. Consequently, no further profit attribution was warranted and AO was directed to accept the 2% margin.
ITAT dismissed Revenue's appeals, upholding taxation of the assessee's receipts under Section 44BB rather than as FTS under Section 9(1)(vii) r.w.s. 44DA, following judicial consistency with earlier years in the assessee's own case. On offshore sale of equipment, ITAT accepted the assessee's 2% profit attribution for Indian operations, relying on prior coordinate bench findings that the assessee's selected comparables satisfied FAR analysis and yielded a weighted average margin of 1.69%. Consequently, no further profit attribution was warranted and AO was directed to accept the 2% margin.
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