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...
Exercise of revisional power under section 263 is limited to orders that are not merely erroneous but prejudicial to revenue; a mere difference of opinion between the Assessing Officer and the Commissioner cannot justify setting aside, modifying or remanding an assessment, and the Commissioner must record reasons specifying how and to what extent the assessment is prejudicial. On addition of alleged cash credits under section 68, the AO had examined partners' accounts and sources and recorded satisfaction as to genuineness; that factual satisfaction was not shown to be prejudicial, so interference was unwarranted and the appeal was dismissed.
Exercise of revisional power under section 263 is limited to orders that are not merely erroneous but prejudicial to revenue; a mere difference of opinion between the Assessing Officer and the Commissioner cannot justify setting aside, modifying or remanding an assessment, and the Commissioner must record reasons specifying how and to what extent the assessment is prejudicial. On addition of alleged cash credits under section 68, the AO had examined partners' accounts and sources and recorded satisfaction as to genuineness; that factual satisfaction was not shown to be prejudicial, so interference was unwarranted and the appeal was dismissed.
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