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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...
Reopening of assessment was quashed where the AO relied uncritically on AIR information without independent application of mind; the statutory test requires information with a direct nexus to form a belief that income escaped assessment, and treating transmission as conclusive or assuming return was not filed vitiated the formation of belief. The Addl. CIT's approval was held mechanical and based on incomplete facts, and the appellate tribunal upheld CIT(A)'s decision to quash the reopening, deciding against the revenue.
Reopening of assessment was quashed where the AO relied uncritically on AIR information without independent application of mind; the statutory test requires information with a direct nexus to form a belief that income escaped assessment, and treating transmission as conclusive or assuming return was not filed vitiated the formation of belief. The Addl. CIT's approval was held mechanical and based on incomplete facts, and the appellate tribunal upheld CIT(A)'s decision to quash the reopening, deciding against the revenue.
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