Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Addition under s.69C for alleged bogus purchases was unsustainable because the precondition for s.69C is proof of a genuinely incurred expenditure whose source remains unexplained. Since the assessee's books were not rejected under s.145(3), the purchases were recorded in regular books, and bank statements evidenced sufficient balances and payments, the source of the purchase expenditure was not in dispute. Consequently, s.69C could not be invoked, and the estimated disallowance/profit element addition at 12.5% of purchase value was deleted; the appeal was allowed. - ITAT
Addition under s.69C for alleged bogus purchases was unsustainable because the precondition for s.69C is proof of a genuinely incurred expenditure whose source remains unexplained. Since the assessee's books were not rejected under s.145(3), the purchases were recorded in regular books, and bank statements evidenced sufficient balances and payments, the source of the purchase expenditure was not in dispute. Consequently, s.69C could not be invoked, and the estimated disallowance/profit element addition at 12.5% of purchase value was deleted; the appeal was allowed. - ITAT
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