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...
Dispute concerned additions to income under section 68 and section 56(2)(viib) alleging unexplained large share capital and excessive premium. Tribunal found that notices to lenders were duly issued and acknowledged and that lenders filed confirmations, so the file contained materials establishing the genuineness, identity and creditworthiness of creditors; this factual appreciation led to dismissal of the revenue's appeal. Non-appearance of directors under summons was noted but did not negate the documentary evidence confirming transactions.
Dispute concerned additions to income under section 68 and section 56(2)(viib) alleging unexplained large share capital and excessive premium. Tribunal found that notices to lenders were duly issued and acknowledged and that lenders filed confirmations, so the file contained materials establishing the genuineness, identity and creditworthiness of creditors; this factual appreciation led to dismissal of the revenue's appeal. Non-appearance of directors under summons was noted but did not negate the documentary evidence confirming transactions.
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