Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Whether air purifiers and HEPA filters should be treated akin to "medical devices" covered by the notification prescribing 5% GST was the dominant issue. The court, noting the functional role of these devices and policy concerns reflected in parliamentary recommendations, recorded a prima facie view that there was no apparent reason to deny them the 5% rate applicable to devices listed in the notification, and directed that the question of lowering or abolishing GST on air purifiers and HEPA filters be placed before the GST Council for expeditious consideration, with the matter kept pending for compliance. - HC
Whether air purifiers and HEPA filters should be treated akin to "medical devices" covered by the notification prescribing 5% GST was the dominant issue. The court, noting the functional role of these devices and policy concerns reflected in parliamentary recommendations, recorded a prima facie view that there was no apparent reason to deny them the 5% rate applicable to devices listed in the notification, and directed that the question of lowering or abolishing GST on air purifiers and HEPA filters be placed before the GST Council for expeditious consideration, with the matter kept pending for compliance. - HC
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