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...
Bogus long-term capital gains additions on listed shares under section 68 cannot be sustained on suspicion alone where the assessee produces purchase records, demat statements, stock exchange sale documents and banking evidence, and the Revenue brings no specific rebuttal. The Tribunal held that general investigation inputs and allegations of penny stock accommodation entries do not displace documentary proof unless there is cogent material linking the assessee to a sham or manipulated transaction. On similar facts, including decisions involving the same scrip, the CIT(A)'s deletion of the addition was upheld and the Revenue's challenge failed.
Bogus long-term capital gains additions on listed shares under section 68 cannot be sustained on suspicion alone where the assessee produces purchase records, demat statements, stock exchange sale documents and banking evidence, and the Revenue brings no specific rebuttal. The Tribunal held that general investigation inputs and allegations of penny stock accommodation entries do not displace documentary proof unless there is cogent material linking the assessee to a sham or manipulated transaction. On similar facts, including decisions involving the same scrip, the CIT(A)'s deletion of the addition was upheld and the Revenue's challenge failed.
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