Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Penalty under s. 271AAB(1A)(b) was held unsustainable where the search did not unearth any incriminating material evidencing "undisclosed income" and the only basis was a statement under s. 132(4) offering additional income that was later retracted and was not reflected in the return for the relevant year. Since discovery of undisclosed income during or as a result of the search is a sine qua non for invoking s. 271AAB(1A)(b), a mere admission without corroborative seized material could not support penalty. Accordingly, deletion of the penalty was upheld and the revenue's appeal was dismissed. - ITAT
Penalty under s. 271AAB(1A)(b) was held unsustainable where the search did not unearth any incriminating material evidencing "undisclosed income" and the only basis was a statement under s. 132(4) offering additional income that was later retracted and was not reflected in the return for the relevant year. Since discovery of undisclosed income during or as a result of the search is a sine qua non for invoking s. 271AAB(1A)(b), a mere admission without corroborative seized material could not support penalty. Accordingly, deletion of the penalty was upheld and the revenue's appeal was dismissed. - ITAT
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