Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Reopening of assessment was invalidated for lack of tangible material and the AO's independent application of mind; the notice under section 147/148 rested on 'borrowed satisfaction' from the investigation wing without requisite nexus or reasoned inference of escapement and therefore failed the four essential ingredients for reopening. On merits, share application monies treated as unexplained cash credits under section 68 were deleted: the assessee produced confirmations, bank statements and investors' audited accounts and sought summonses, and the Tribunal found the evidentiary onus discharged despite limited third party noncompliance.
Reopening of assessment was invalidated for lack of tangible material and the AO's independent application of mind; the notice under section 147/148 rested on 'borrowed satisfaction' from the investigation wing without requisite nexus or reasoned inference of escapement and therefore failed the four essential ingredients for reopening. On merits, share application monies treated as unexplained cash credits under section 68 were deleted: the assessee produced confirmations, bank statements and investors' audited accounts and sought summonses, and the Tribunal found the evidentiary onus discharged despite limited third party noncompliance.
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