RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Addition under s.69 for alleged cash "on-money" paid over and above the agreement value for purchase of shop premises was examined on whether it could be sustained solely on third-party seized material and an employee's statement. In absence of any corroborative evidence linking the assessee to such payment, and where the assessee categorically denied any cash outflow, reliance on untested third-party material was held insufficient. Failure to confront the assessee with the seized material and denial of requested cross-examination vitiated the evidentiary basis. The addition was deleted and the issue was decided in favour of the assessee - ITAT
Addition under s.69 for alleged cash "on-money" paid over and above the agreement value for purchase of shop premises was examined on whether it could be sustained solely on third-party seized material and an employee's statement. In absence of any corroborative evidence linking the assessee to such payment, and where the assessee categorically denied any cash outflow, reliance on untested third-party material was held insufficient. Failure to confront the assessee with the seized material and denial of requested cross-examination vitiated the evidentiary basis. The addition was deleted and the issue was decided in favour of the assessee - ITAT
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