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...
Surplus interest-free funds support a presumption that investments were funded from those sources, where such funds exceed the investments. On that basis, interest expenditure could not be disallowed or capitalised as capital work in progress when the building had already been put to use in earlier years. The text also states that a disallowance computed under section 14A read with rule 8D cannot, merely for that reason, be added to book profit under section 115JB. It records that the appellate deletions were upheld, as the issues were covered by binding decisions and concurrent factual findings, with no substantial question of law arising.
Surplus interest-free funds support a presumption that investments were funded from those sources, where such funds exceed the investments. On that basis, interest expenditure could not be disallowed or capitalised as capital work in progress when the building had already been put to use in earlier years. The text also states that a disallowance computed under section 14A read with rule 8D cannot, merely for that reason, be added to book profit under section 115JB. It records that the appellate deletions were upheld, as the issues were covered by binding decisions and concurrent factual findings, with no substantial question of law arising.
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