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...
Assessing Officer initiated proceedings under section 147 solely on the basis of incriminating material seized during a search of a third party, but where information pertains to a person other than the searched party the proper statutory route is assessment under section 153C; therefore the AO lacked jurisdiction to proceed under section 147 and the appellate authority correctly quashed the 147 proceedings. Separately, additions for alleged 'on money' receipts were deleted because the AO extrapolated figures from seized documents without any corroborative evidence or independent inquiry, rendering the additions speculative and unsupported.
Assessing Officer initiated proceedings under section 147 solely on the basis of incriminating material seized during a search of a third party, but where information pertains to a person other than the searched party the proper statutory route is assessment under section 153C; therefore the AO lacked jurisdiction to proceed under section 147 and the appellate authority correctly quashed the 147 proceedings. Separately, additions for alleged 'on money' receipts were deleted because the AO extrapolated figures from seized documents without any corroborative evidence or independent inquiry, rendering the additions speculative and unsupported.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
