Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Charitable tree plantation and maintenance for environmental preservation treated as "charitable activity", exempt from GST under Notification 12/2017...
Where the Assessing Officer recorded inconsistencies between the return, balance sheet and construction agreement and expressly considered then rejected the assessee's books of account, referral to the District Valuation Officer for valuation was held permissible; the court applied the principle that a DVO report may be relied on only after rejection of books and found that factual record satisfied that rule. The HC endorsed the Tribunal and CIT(A) directions, approved adoption of State PWD rates for valuation, treated the omitted investment as escaped income and dismissed the tax appeal.
Where the Assessing Officer recorded inconsistencies between the return, balance sheet and construction agreement and expressly considered then rejected the assessee's books of account, referral to the District Valuation Officer for valuation was held permissible; the court applied the principle that a DVO report may be relied on only after rejection of books and found that factual record satisfied that rule. The HC endorsed the Tribunal and CIT(A) directions, approved adoption of State PWD rates for valuation, treated the omitted investment as escaped income and dismissed the tax appeal.
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