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...
Section 276CC contains a statutory exception to prosecution for failure to furnish an income-tax return where tax payable on regular assessment, after reducing advance tax and tax deducted at source, does not exceed the prescribed threshold. The notes state that an accepted return showing a refund entitlement after TDS credit indicates no revenue loss and may bring the taxpayer within that exception. They further note that failure by the sanctioning authority to consider TDS can render prosecution unwarranted and an abuse of process, supporting quashing of the complaint.
Section 276CC contains a statutory exception to prosecution for failure to furnish an income-tax return where tax payable on regular assessment, after reducing advance tax and tax deducted at source, does not exceed the prescribed threshold. The notes state that an accepted return showing a refund entitlement after TDS credit indicates no revenue loss and may bring the taxpayer within that exception. They further note that failure by the sanctioning authority to consider TDS can render prosecution unwarranted and an abuse of process, supporting quashing of the complaint.
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