Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Section 43B could not be applied to unpaid GST where the assessee had not debited the liability to the profit and loss account and had not claimed it as expenditure. The Tribunal noted that the appellate order itself recorded no deduction claim, yet the adjustment was sustained on the basis that GST formed part of turnover. It held that, absent a deduction otherwise claimed, there was no legal basis to invoke section 43B in this manner. The disallowance of the unpaid GST liability was therefore deleted.
Section 43B could not be applied to unpaid GST where the assessee had not debited the liability to the profit and loss account and had not claimed it as expenditure. The Tribunal noted that the appellate order itself recorded no deduction claim, yet the adjustment was sustained on the basis that GST formed part of turnover. It held that, absent a deduction otherwise claimed, there was no legal basis to invoke section 43B in this manner. The disallowance of the unpaid GST liability was therefore deleted.
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