Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Low household withdrawals were treated as unjustified where the assessee showed substantially lower withdrawals than in the preceding year and produced no evidence that the spouse met household expenses, so the Revenue's estimation was upheld. Year-end trade and expense creditors were not assessable as unexplained cash credits under section 68 because the assessment accepted the transaction credits but rejected only the unpaid balances without reason, and the outstanding amounts were later paid through banking channels. Freight expenditure was disallowed under section 40(a)(ia) because tax had not been deducted at source and the transporters' declarations under section 194C(6) were incomplete and appeared afterthoughts, so the disallowance was sustained.
Low household withdrawals were treated as unjustified where the assessee showed substantially lower withdrawals than in the preceding year and produced no evidence that the spouse met household expenses, so the Revenue's estimation was upheld. Year-end trade and expense creditors were not assessable as unexplained cash credits under section 68 because the assessment accepted the transaction credits but rejected only the unpaid balances without reason, and the outstanding amounts were later paid through banking channels. Freight expenditure was disallowed under section 40(a)(ia) because tax had not been deducted at source and the transporters' declarations under section 194C(6) were incomplete and appeared afterthoughts, so the disallowance was sustained.
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