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...
Where alleged bogus purchases are not supported by proof of actual goods movement, but the books, sales and disclosed profits remain accepted, only the profit element embedded in those purchases may be disallowed rather than their full value. The High Court upheld the Tribunal's factual estimate of a 10 per cent disallowance, finding no legal infirmity. On reassessment, a notice under section 148A(b) need not supply every item of material held by the Assessing Officer; the prescribed reopening procedure was found to have been followed. The challenges to both the disallowance restriction and reassessment were rejected, and both cross-appeals were dismissed.
Where alleged bogus purchases are not supported by proof of actual goods movement, but the books, sales and disclosed profits remain accepted, only the profit element embedded in those purchases may be disallowed rather than their full value. The High Court upheld the Tribunal's factual estimate of a 10 per cent disallowance, finding no legal infirmity. On reassessment, a notice under section 148A(b) need not supply every item of material held by the Assessing Officer; the prescribed reopening procedure was found to have been followed. The challenges to both the disallowance restriction and reassessment were rejected, and both cross-appeals were dismissed.
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