Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Assessment was held time-barred where clause (xii) of Explanation 1 to section 153 operated only as an exclusion of the period during which seized material was unavailable within the running limitation period, not as an enlargement of the total time for assessment; the order passed after the outer date was quashed. On merits, additions based on third-party seized cash entries were deleted because the material came from other entities, the witness retracted the earlier statement, and no independent corroboration connected the assessee to any cash receipt. Digital entries from a pen drive were inadmissible without a valid section 65B certificate, and presumptions under sections 132(4A) and 292C did not apply against the assessee. Section 56(2)(x) failed because actual receipt without consideration was not proved.
Assessment was held time-barred where clause (xii) of Explanation 1 to section 153 operated only as an exclusion of the period during which seized material was unavailable within the running limitation period, not as an enlargement of the total time for assessment; the order passed after the outer date was quashed. On merits, additions based on third-party seized cash entries were deleted because the material came from other entities, the witness retracted the earlier statement, and no independent corroboration connected the assessee to any cash receipt. Digital entries from a pen drive were inadmissible without a valid section 65B certificate, and presumptions under sections 132(4A) and 292C did not apply against the assessee. Section 56(2)(x) failed because actual receipt without consideration was not proved.
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