Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Deduction for donation to a political party under section 80GGC cannot be denied on a bare accommodation-entry allegation unless there is evidence that the donation was returned to the assessee or that the assessee derived a direct benefit from a backdoor arrangement. In the absence of material showing refund of the donation, retention of commission by the party, or any direct nexus between the payment and an advantage to the assessee, the allegation by itself is insufficient to disallow the claim. The deduction was therefore allowed.
Deduction for donation to a political party under section 80GGC cannot be denied on a bare accommodation-entry allegation unless there is evidence that the donation was returned to the assessee or that the assessee derived a direct benefit from a backdoor arrangement. In the absence of material showing refund of the donation, retention of commission by the party, or any direct nexus between the payment and an advantage to the assessee, the allegation by itself is insufficient to disallow the claim. The deduction was therefore allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
