Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Taxability of excess stock discovered on survey: where excess items formed part of undifferentiated total stock discovered before year-end and the assessee admitted and included the amount in the profit and loss account and return, the excess represents undeclared business receipts rather than an identifiable investment. Applying settled authority, the deeming fiction for unexplained investment cannot be invoked for non-identifiable mixed stock and the special tax rate provision does not apply where the amount is offered and accepted as business income. Outcome: appeal allowed; excess stock taxed as business income, not under unexplained investment rules.
Taxability of excess stock discovered on survey: where excess items formed part of undifferentiated total stock discovered before year-end and the assessee admitted and included the amount in the profit and loss account and return, the excess represents undeclared business receipts rather than an identifiable investment. Applying settled authority, the deeming fiction for unexplained investment cannot be invoked for non-identifiable mixed stock and the special tax rate provision does not apply where the amount is offered and accepted as business income. Outcome: appeal allowed; excess stock taxed as business income, not under unexplained investment rules.
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