Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Assessment of income on account of unsubstantiated purchases was affirmed where the assessee failed to produce parties, documents or reconcile sundry balances; the tribunal upheld CIT(A)/NFAC direction to adopt a reasonable profit rate (informed by but not applying section 44AD) instead of disallowing all purchases. Separately, disallowance under the TDS provision was sustained because audited accounts and auditor silence did not excuse the assessee's statutory failure to deduct tax at source.
Assessment of income on account of unsubstantiated purchases was affirmed where the assessee failed to produce parties, documents or reconcile sundry balances; the tribunal upheld CIT(A)/NFAC direction to adopt a reasonable profit rate (informed by but not applying section 44AD) instead of disallowing all purchases. Separately, disallowance under the TDS provision was sustained because audited accounts and auditor silence did not excuse the assessee's statutory failure to deduct tax at source.
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