Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
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Unaccounted quarry sales establish suppressed business transactions, but only the profit reasonably embedded in those sales is taxable; extraction, production and operating costs cannot be treated as income absent evidence of unexplained funding. Profit estimation must have a rational link to the taxpayer's own historical results and accounted-business profitability; an unverified external gross-profit margin cannot be substituted for net profit. The voluntarily offered profit rates were accepted, displacing the higher rate. Cash sales captured in seized data cannot be added separately where aggregate records, annual accounts and GST disclosures show they were already included in disclosed turnover; a further profit addition would duplicate the same sales.
Unaccounted quarry sales establish suppressed business transactions, but only the profit reasonably embedded in those sales is taxable; extraction, production and operating costs cannot be treated as income absent evidence of unexplained funding. Profit estimation must have a rational link to the taxpayer's own historical results and accounted-business profitability; an unverified external gross-profit margin cannot be substituted for net profit. The voluntarily offered profit rates were accepted, displacing the higher rate. Cash sales captured in seized data cannot be added separately where aggregate records, annual accounts and GST disclosures show they were already included in disclosed turnover; a further profit addition would duplicate the same sales.
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