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...
Royalty expenditure and subcontract expenditure were both restored to the Assessing Officer for fresh examination because the existing record did not conclusively establish the contractual basis, the nature of royalty deduction from running bills, or the genuineness of the joint venture arrangement and subcontracting arrangement. The Tribunal required reconsideration of the royalty claim on the basis of the contract terms and material already filed, and directed verification of the subcontract disallowance with reference to TDS compliance, the joint venture agreement, and execution of work under the PWD tender. Since the quantum additions were set aside for de novo assessment, the consequential penalty under section 270A was also left open for fresh consideration in the reassessment proceedings.
Royalty expenditure and subcontract expenditure were both restored to the Assessing Officer for fresh examination because the existing record did not conclusively establish the contractual basis, the nature of royalty deduction from running bills, or the genuineness of the joint venture arrangement and subcontracting arrangement. The Tribunal required reconsideration of the royalty claim on the basis of the contract terms and material already filed, and directed verification of the subcontract disallowance with reference to TDS compliance, the joint venture agreement, and execution of work under the PWD tender. Since the quantum additions were set aside for de novo assessment, the consequential penalty under section 270A was also left open for fresh consideration in the reassessment proceedings.
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