Delayed judgment pronouncement alone does not invalidate Tribunal orders, while rectification cannot reopen evidence or negate confiscation-related pe...
Agricultural-land reinvestment qualifies when transfer consideration precedes replacement purchase, while unexamined claims may be reassessed on escap...
Bona fide public fixed-deposit explanations prevent concealment penalties where unexplained-credit additions lack independent evidence of undisclosed ...
Factory-consumption condition restricts solar module parts exemption and excludes imported aluminium profiles fabricated outside the production factor...
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GST refund disclosure in a tax audit report does not, by itself, establish taxable income. GST is a statutory levy collected and paid on behalf of the Government, and its refund represents a return of tax paid rather than income. Where refunded GST or IGST was not claimed as expenditure in the profit and loss account, it cannot be taxed solely because of its disclosure in the tax audit report. Allowability of the refund remains subject to examination of supporting records and applicable law.
GST refund disclosure in a tax audit report does not, by itself, establish taxable income. GST is a statutory levy collected and paid on behalf of the Government, and its refund represents a return of tax paid rather than income. Where refunded GST or IGST was not claimed as expenditure in the profit and loss account, it cannot be taxed solely because of its disclosure in the tax audit report. Allowability of the refund remains subject to examination of supporting records and applicable law.
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