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...
Assessee successfully contested disallowances: the Tribunal found proportionate interest disallowance under section 36(1)(iii) unjustified because loans and advances were funded from the assessee's own interest-free funds and repayments demonstrated genuineness; reimbursement payments for staff training to Mahindra & Mahindra Ltd. did not attract TDS under section 194C and so section 40(a)(ia) disallowance was deleted; discrepancies between income in the return and Form 26AS were attributable to legitimate business adjustments and the assessee explained RTO reimbursements, so additions and the section 40A(3) cash expenditure disallowance were deleted. The appeal was allowed in entirety.
Assessee successfully contested disallowances: the Tribunal found proportionate interest disallowance under section 36(1)(iii) unjustified because loans and advances were funded from the assessee's own interest-free funds and repayments demonstrated genuineness; reimbursement payments for staff training to Mahindra & Mahindra Ltd. did not attract TDS under section 194C and so section 40(a)(ia) disallowance was deleted; discrepancies between income in the return and Form 26AS were attributable to legitimate business adjustments and the assessee explained RTO reimbursements, so additions and the section 40A(3) cash expenditure disallowance were deleted. The appeal was allowed in entirety.
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