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...
For GST anti-profiteering in an ongoing real-estate project, completion is reckoned from actual issuance of the Occupancy Certificate, not from filing the application. The discussion states that post-GST input tax credit benefits may be quantified by comparing pre- and post-GST ITC-to-purchase-value ratios using certified actual data, and apportioned to purchasers. Where homebuyers are identifiable from supplier records, the profiteered amount must be returned to them with interest; deposit in Consumer Welfare Funds is residual where recipients cannot genuinely be identified. It also notes that a penalty provision introduced after the investigation period cannot apply retrospectively without express statutory authority.
For GST anti-profiteering in an ongoing real-estate project, completion is reckoned from actual issuance of the Occupancy Certificate, not from filing the application. The discussion states that post-GST input tax credit benefits may be quantified by comparing pre- and post-GST ITC-to-purchase-value ratios using certified actual data, and apportioned to purchasers. Where homebuyers are identifiable from supplier records, the profiteered amount must be returned to them with interest; deposit in Consumer Welfare Funds is residual where recipients cannot genuinely be identified. It also notes that a penalty provision introduced after the investigation period cannot apply retrospectively without express statutory authority.
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