Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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...
Rectification of a return could not be used to enhance business income where amounts such as rent, dividend and bank interest had already been disclosed under their proper heads, because the same sums were again added to business income due to a return-filing error. On examining the return, profit and loss account and computation, the Tribunal accepted that income taxable under other heads had to be reduced from business income when computing net profit. The rectification order was based on an incorrect appreciation of the computation, and the impugned addition was deleted.
Rectification of a return could not be used to enhance business income where amounts such as rent, dividend and bank interest had already been disclosed under their proper heads, because the same sums were again added to business income due to a return-filing error. On examining the return, profit and loss account and computation, the Tribunal accepted that income taxable under other heads had to be reduced from business income when computing net profit. The rectification order was based on an incorrect appreciation of the computation, and the impugned addition was deleted.
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