Content ownership determines GST treatment of printed publications: customer-supplied text is a taxable printing service, owned content is exempt good...
Employee recoveries, input tax credit and notice pay recovery under GST: AAR distinguishes taxable supplies from non-taxable perquisites and penalties...
Reopening an assessment requires a recorded 'reason to believe' supported by tangible material showing nexus to escapement of income; the AO relied on receipt of funds from a related third party and unsubstantiated suspicion without citing documents or evidence, and failed to undertake reasonable enquiries to convert suspicion into belief. The AO's reasons were scant, vague and based on subjective notions, amounting to a roving enquiry rather than an objective basis for reopening. Consequently, the reassessment notice was invalidated and relief granted to the taxpayer.
Reopening an assessment requires a recorded 'reason to believe' supported by tangible material showing nexus to escapement of income; the AO relied on receipt of funds from a related third party and unsubstantiated suspicion without citing documents or evidence, and failed to undertake reasonable enquiries to convert suspicion into belief. The AO's reasons were scant, vague and based on subjective notions, amounting to a roving enquiry rather than an objective basis for reopening. Consequently, the reassessment notice was invalidated and relief granted to the taxpayer.
Note: It is a system-generated summary and is for quick reference only.
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