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...
Penalty for cash receipts is attracted only when the receipt falls within one of the three statutory situations under section 269ST: receipt from a person in a day, receipt for a single transaction, or receipt relating to one event or occasion. The note explains that admitted cash sales, or an assessment completed by estimating profit on those sales, are not enough by themselves; the penalty order must record facts showing the specific statutory breach. In the absence of such findings, levy of penalty under section 271DA is unjustified, and the same reasoning applies where the facts and issue are identical across years.
Penalty for cash receipts is attracted only when the receipt falls within one of the three statutory situations under section 269ST: receipt from a person in a day, receipt for a single transaction, or receipt relating to one event or occasion. The note explains that admitted cash sales, or an assessment completed by estimating profit on those sales, are not enough by themselves; the penalty order must record facts showing the specific statutory breach. In the absence of such findings, levy of penalty under section 271DA is unjustified, and the same reasoning applies where the facts and issue are identical across years.
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