Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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Addition based on bank stock statements was sustained where the assessee did not deny availing overdraft consistent with those statements; the tribunal treated the stock as declared in the bank-filed statement. The reasoning emphasises that the statement, though unsigned by some partners, was prepared by the bank's godown keeper, linked directly to the client's drawing power, and supported by the bank manager's testimony. The assessee was given opportunity to rebut but produced no contrary evidence; consequently the stock statement's evidentiary weight was accepted and the assessment decision adverse to the assessee was maintained.
Addition based on bank stock statements was sustained where the assessee did not deny availing overdraft consistent with those statements; the tribunal treated the stock as declared in the bank-filed statement. The reasoning emphasises that the statement, though unsigned by some partners, was prepared by the bank's godown keeper, linked directly to the client's drawing power, and supported by the bank manager's testimony. The assessee was given opportunity to rebut but produced no contrary evidence; consequently the stock statement's evidentiary weight was accepted and the assessment decision adverse to the assessee was maintained.
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