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...
ITAT upheld initiation of penalty for under-reported income in consequence of misreporting because the assessment order and show-cause notice clearly conveyed the charge, and requiring a more exact sub-clause specification would go beyond section 270A. It also rejected immunity under section 270AA, holding that such relief is unavailable where penalty proceedings are initiated for misreporting, so the application became infructuous once section 270A(9) was invoked. However, the penalty was deleted on merits in relation to labour cess disallowance, since all material facts were disclosed, the omission was a bona fide computational error, and the addition was tax neutral, bringing the case within the exclusion for bona fide explanations.
ITAT upheld initiation of penalty for under-reported income in consequence of misreporting because the assessment order and show-cause notice clearly conveyed the charge, and requiring a more exact sub-clause specification would go beyond section 270A. It also rejected immunity under section 270AA, holding that such relief is unavailable where penalty proceedings are initiated for misreporting, so the application became infructuous once section 270A(9) was invoked. However, the penalty was deleted on merits in relation to labour cess disallowance, since all material facts were disclosed, the omission was a bona fide computational error, and the addition was tax neutral, bringing the case within the exclusion for bona fide explanations.
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