Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
In determining taxable income of a freight forwarding and handling intermediary, only the net service charges retained constitute "real income," since freight components billed and collected from customers are payable onward to airlines/shipping lines and are not the assessee's compensation. Where the tax authorities treated gross receipts as income and made an addition for the difference with returned income, they were required to allow corresponding freight remittances evidenced on record, even if not routed through the profit and loss account, as the amounts were pass-through. Additions cannot rest merely on transaction value without proving it represents consideration for services. The appellate relief deleting the addition was upheld. - ITAT
In determining taxable income of a freight forwarding and handling intermediary, only the net service charges retained constitute "real income," since freight components billed and collected from customers are payable onward to airlines/shipping lines and are not the assessee's compensation. Where the tax authorities treated gross receipts as income and made an addition for the difference with returned income, they were required to allow corresponding freight remittances evidenced on record, even if not routed through the profit and loss account, as the amounts were pass-through. Additions cannot rest merely on transaction value without proving it represents consideration for services. The appellate relief deleting the addition was upheld. - ITAT
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