Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Reopening of assessment on allegation of bogus invoices was held unjustified because ledger entries did not show escaped income and the AO treated Rs.3,67,43,973 as bogus purchase despite it being claimed as a deduction and linked to a later payment of Rs.5,13,02,342 following a DGGI survey. The petitioner was not called upon to explain the alleged bogus GST claim, and the High Court found procedural and substantive defects in the reassessment action. Consequently the notice under reopening and the impugned order were quashed and the writ petition allowed.
Reopening of assessment on allegation of bogus invoices was held unjustified because ledger entries did not show escaped income and the AO treated Rs.3,67,43,973 as bogus purchase despite it being claimed as a deduction and linked to a later payment of Rs.5,13,02,342 following a DGGI survey. The petitioner was not called upon to explain the alleged bogus GST claim, and the High Court found procedural and substantive defects in the reassessment action. Consequently the notice under reopening and the impugned order were quashed and the writ petition allowed.
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