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...
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...
Where sales were fully recorded in the assessee's books and there was no evidence of suppressed sales, a separate 6% profit addition on those sales was impermissible even though the counterparties were alleged bogus entities. The Tribunal had sustained addition only on the bogus purchases, and no material displaced that factual basis. The Assessing Officer had not recorded any finding that the sales themselves were bogus or that a further sales addition was warranted. The HC therefore dismissed the revenue's appeals and upheld rejection of the further profit addition.
Where sales were fully recorded in the assessee's books and there was no evidence of suppressed sales, a separate 6% profit addition on those sales was impermissible even though the counterparties were alleged bogus entities. The Tribunal had sustained addition only on the bogus purchases, and no material displaced that factual basis. The Assessing Officer had not recorded any finding that the sales themselves were bogus or that a further sales addition was warranted. The HC therefore dismissed the revenue's appeals and upheld rejection of the further profit addition.
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