Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
ITAT held that a deduction claimed for political donations under section 80GGC was not allowable where the donation, though made by cheque, was routed through bank accounts in a manner indicating accommodation entry transactions. Following its earlier co-ordinate Bench ruling on identical facts, the Tribunal accepted the Revenue's contention that the assessee's claim could not be sustained and restored the disallowance deleted by the lower authority. The Revenue's appeal was allowed on that basis.
ITAT held that a deduction claimed for political donations under section 80GGC was not allowable where the donation, though made by cheque, was routed through bank accounts in a manner indicating accommodation entry transactions. Following its earlier co-ordinate Bench ruling on identical facts, the Tribunal accepted the Revenue's contention that the assessee's claim could not be sustained and restored the disallowance deleted by the lower authority. The Revenue's appeal was allowed on that basis.
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