Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
When the Revenue alleged receipt of accommodation entries through bogus billing, the onus remained on it to prove the impugned transaction with reliable evidence, and the addition could not rest on unverified investigation material. The assessee explained that there was no purchase or sale with the concern during the year and that the receipts were towards earlier outstanding dues, supported by its ledger account; the Revenue did not disprove that explanation or establish the alleged entry in the assessee's case. Reliance on an undisclosed statement, without supplying it to the assessee or granting cross-examination, also breached natural justice. The ITAT therefore deleted the entire addition.
When the Revenue alleged receipt of accommodation entries through bogus billing, the onus remained on it to prove the impugned transaction with reliable evidence, and the addition could not rest on unverified investigation material. The assessee explained that there was no purchase or sale with the concern during the year and that the receipts were towards earlier outstanding dues, supported by its ledger account; the Revenue did not disprove that explanation or establish the alleged entry in the assessee's case. Reliance on an undisclosed statement, without supplying it to the assessee or granting cross-examination, also breached natural justice. The ITAT therefore deleted the entire addition.
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