Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Additions for cash receipts found during survey were unsustainable where the impugned receipts related to land owned and sold by a partnership firm, the advances were recorded in the firm's books as advances for sale of flats, and the firm had offered the corresponding income to tax; absent contrary evidence showing the transactions belonged to the individual taxpayer, the addition as the taxpayer's income was deleted. Additions based on impounded documents recording transactions in the taxpayer's name were likewise deleted because, on identical facts, the transactions were held to pertain to the partnership firm and to be accounted for as advances in the firm's books, rendering assessment in the taxpayer's hands impermissible. - ITAT
Additions for cash receipts found during survey were unsustainable where the impugned receipts related to land owned and sold by a partnership firm, the advances were recorded in the firm's books as advances for sale of flats, and the firm had offered the corresponding income to tax; absent contrary evidence showing the transactions belonged to the individual taxpayer, the addition as the taxpayer's income was deleted. Additions based on impounded documents recording transactions in the taxpayer's name were likewise deleted because, on identical facts, the transactions were held to pertain to the partnership firm and to be accounted for as advances in the firm's books, rendering assessment in the taxpayer's hands impermissible. - ITAT
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