Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Recorded purchases supported by bills and vouchers, transport and FASTag data, banking-channel payments, and GST/TDS particulars were treated as genuine where the books were not rejected and no defect appeared in trading results or stock records. Reliance on a supplier's statement without effective cross-examination was insufficient. The source of expenditure principle was applied to state that unexplained expenditure provisions cannot be invoked merely because the supplier's authenticity is doubted when the payment source is explained from disclosed accounts. On these facts, the addition for alleged bogus purchases was deleted and the Revenue challenge failed.
Recorded purchases supported by bills and vouchers, transport and FASTag data, banking-channel payments, and GST/TDS particulars were treated as genuine where the books were not rejected and no defect appeared in trading results or stock records. Reliance on a supplier's statement without effective cross-examination was insufficient. The source of expenditure principle was applied to state that unexplained expenditure provisions cannot be invoked merely because the supplier's authenticity is doubted when the payment source is explained from disclosed accounts. On these facts, the addition for alleged bogus purchases was deleted and the Revenue challenge failed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
