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...
Cash-transaction restrictions under sections 269SS and 271D are discussed in relation to receipts from registered immovable-property sale transactions. The notes state that penalty may not be warranted where cash receipts are from genuine, identifiable parties, are recorded as stock-in-trade, and are supported by registered sale deeds. They describe the restriction's purpose as curbing black-money generation rather than penalising bona fide transactions, and identify proof of genuineness and bona fides as material to relief from penalty.
Cash-transaction restrictions under sections 269SS and 271D are discussed in relation to receipts from registered immovable-property sale transactions. The notes state that penalty may not be warranted where cash receipts are from genuine, identifiable parties, are recorded as stock-in-trade, and are supported by registered sale deeds. They describe the restriction's purpose as curbing black-money generation rather than penalising bona fide transactions, and identify proof of genuineness and bona fides as material to relief from penalty.
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