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...
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
