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...
Immunity from penalty for under-reporting of income requires reconsideration where a timely Form No. 68 application is followed by rectification of the assessment demand resulting in a refund. The material states that neither the penalty order nor the appellate order considered whether the rectification affected compliance with the requirement to pay tax and interest, particularly where no demand ultimately survived. The immunity claim was restored for fresh examination by a speaking order after granting reasonable opportunity, with consequential reconsideration of the penalty issue if required.
Immunity from penalty for under-reporting of income requires reconsideration where a timely Form No. 68 application is followed by rectification of the assessment demand resulting in a refund. The material states that neither the penalty order nor the appellate order considered whether the rectification affected compliance with the requirement to pay tax and interest, particularly where no demand ultimately survived. The immunity claim was restored for fresh examination by a speaking order after granting reasonable opportunity, with consequential reconsideration of the penalty issue if required.
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